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.
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“Further investment is expected which reflects the ownership group’s long-term commitments for Newcastle United.
Darren Eales, CEO of Newcastle United, said: “We are at the beginning of a long-term plan that aims to build a club that can compete consistently at the highest levels of English and European football. We need to develop the whole business, as well as the playing squad.
"And we need to do so while adhering to the Financial Fair Play rules. This additional investment further enables us to continue implementing the business plan.”
Equity investments by the ownership group to-date are set out in historical Companies House filings. A total of £305 million was invested at the time of the takeover in October 2021. A further £38.5 million was invested in November 2021, followed by another £40 million in January 2022. The club has also secured banking facilities to support its working capital requirements.
