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Everton’s former chief Keith Wyness has insisted Newcastle United will be unaffected despite the Saudi Public Investment Fund announcing overseas spending cuts., the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – revealed he has spoken to a contact within PIF and they are still likely to fund a redevelopment at St James’ Park worth around £1billion.
Newcastle was purchased by a Saudi-backed consortium in 2021 and have recently ramped up plans to redevelop the club’s St James’ Park stadium.“I spoke to my PIF contact this week about this. 30% of their investment is currently overseas, they want to bring that down to around 20%.
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