Newcastle United have been handed a major cash boost after its investors injected further equity into the club. The Magpies have pledged further investment moving forward as they look to rebuild the club after years of decline under Mike Ashley.
A United statement read: “The ownership group, comprising PIF, PCP Capital Partners and RB Sports & Media, has invested a further £70.4 million of equity into Newcastle United FC. This investment brings the ownership group’s investment to date to over £450 million.
“The capital injection follows a wide range of investments in the club that has seen an upgrade of training facilities, improvements to St. James’ Park and recruitment of a number of senior executives to build out the commercial operations of the club, as well as investment in the playing squad.
