Newcastle United FC reported an annual profit of £35M ($47M), primarily driven by the sale of St James’ Park stadium and property assets to a company associated with the club’s owners.
Newcastle FC is majority owned (80%) by KSA’s Public Investment Fund since 2021.
This profit for the fiscal year ending June 2025 follows a $14M loss in the previous financial year.
PIF Driven Investments
PZ Newco Holdings (PZNH), established in the UK on 5 June 2025, operates under the same ownership structure as Newcastle United.
Both entities are dominated by PZ Newco, the investment vehicle largely owned by the Public Investment Fund: Saudi Arabia’s SWF.
PZNH acquired leasehold improvements at St James’ Park for $229M, yielding a significant $171M accounting gain for Newcastle United. The acquisition occurred before the club’s financial year closure on 30 June.
Without the transaction, Premier League club would have recorded a substantial loss for the year.
A Club on the Rise
In 2025, Newcastle United secured its first domestic trophy in 70 years and qualified for the lucrative UEFA Champions League, finishing fifth in the Premier League. The club’s turnover rose by $20M to $446M, bolstered by a 44% uptick in commercial revenue.
The PIF orchestrated a buyout of Newcastle in October 2021, in partnership with PCP Capital Partners and RB Sports & Media, valued at approximately $410M.
In October 2024, the fund injected an additional $46.5M into the club. Recently, the wealth fund has shifted its strategy, with plans for a new five-year approach prioritising the attraction of private-sector investment in its portfolio companies.
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