Yasir Al-Rumayyan reveals Brazil investment plans in $3tn move involving Newcastle United

Yasir Al Rumayyan has revealed the Public Investment Fund of Saudi Arabia are interested in investing in Brazilian football.

PIF, who are majority owners of Newcastle United with an 80% stake, want to grow its assets between $2trillion to $3tn by 2030 in line with ‘Vision 2030’, and sport is set to play a major part.

Since completing their £305million takeover of the Magpies in October 2021, PIF has furthered strengthened its football portfolio, taking over four Saudi Pro League teams - Al Hilal, Al Nassr, Al Ittihad and Al Ahli. Meanwhile in 2034, Saudi Arabia will host the World Cup for the first time having already staged the 2023 Club World Cup.

PIF has been linked with investing in other clubs around Europe, namely teams in Italy and France, but the next step could be South America.

Speaking at FII Priority event in Rio de Janeiro, Al Rumayyan explained: “About 80% of our investments are domestic investments which is about $800billion. Our assets are about $1trillion and we’re targeting to get to a range between $2tn to $3tn by the year 2030.

“Most of our investments are domestic and most of these investments are in green field projects, i.e. new projects. Why are we doing it? We’re doing it to have the right internal rate of returns, the right job creation and at the same time create some locker content, to bring in most of the things we’re importing from the international markets to be in Saudi Arabia.

“What we’re doing internationally is only about 20 per-cent of our assets and management but at the same time, this 20% is about $200bn.

“We started investing in Brazil back in 2016 through one of our subsidiaries Salic but we continued with the investments from PIF. We’re interested, of course, in technology, renewable energy, mining and hopefully in football too.

“One of the things we’re interested in recreation, entertainment and sports - that’s why we have so many big initiatives in different sports, including football. And I think this is the best place to be discussing football.”

Investing in a Brazilian club could help form a multi-club model including Newcastle. However, it could also be unrelated with the four Saudi Pro League clubs very much separate from United.