Newcastle United director announces new commercial PIF role amid Premier League APT ruling

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Newcastle United have made several changes to their boardroom staff since the takeover in 2021.

For Newcastle United fans, the takeover involving the PIF was a historical one. However, the club have been held back as a result of new rules brought in by the Premier League.

Former Newcastle owner Amanda Staveley blasted Premier League clubs for voting on a restriction of Associated Party Transactions (APT) which meant the PIF were not able to invest as much money as they would have liked in their three years in ownership.

Now, the Premier League were stunned after a tribunal ruled that the APT rules brought in were deemed unlawful by an independent tribunal. Newcastle will benefit from the APT ruling which should bring more lucrative sponsorships the club’s way.

Since 2021, Mike Ashley’s executives have been replaced with a completely new board of directors, executives and officers. The likes of Darren Eales, Peter Silverstone and Paul Mitchell have all been welcomed in recent years.

Now, a new face on Newcastle’s board of directors has landed a new role within the PIF which could lead to bigger opportunities for the Magpies.

Newcastle director Jacobo Solis lands new PIF role

Jacobo Solis has been a figure in the background at Newcastle for years.

In January, Newcastle announced that that Solis had joined the club’s board of directors and confirmed he has been directly involved with Newcastle since October 2021 and is closely aligned with the club’s strategy and plans for the future.

The club also stated that Solis was Head of Europe Direct Investments in the International Investments division at the PIF. Now, Solis announced on LinkedIn that he has now taken up the position of Head of Direct Investments in the International Investments Division.

His promotion means that there could be more scope for international sponsors at Newcastle – a much bigger portfolio of parties is now available to them.

Any new sponsorships will not only help the commercial income of the club – it could have a direct impact on Newcastle’s transfer business going forward. Newcastle sold Lloyd Kelly and Miguel Almiron in the January transfer to comply with strict PSR rules.

Those sales are believed to have handed Mitchell the ability to spend better in the summer. As well as the player sales, Newcastle have an extra £73m to spend thanks to the heavy losses from the 2021/22 season dropping off the FFP cycle.

PIF set for Newcastle trip to make stadium decision

Newcastle fans are still eagerly awaiting a decision on whether St James’ Park will be expanded or if a new stadium will be built close to the existing ground.

Magpies CEO Brad Miller proposed two stadium options to Newcastle fans – he stated that a new stadium would bring the club significantly more revenue than expanding the existing ground would. Fans are stuck at a crossroads over the decision – some want to stay at St James’ Park whereas others believe that it is time for a new stadium.

It was reported on Thursday that the PIF will fly to Newcastle and will be in attendance for the Magpies game against Nottingham Forest on February 23. However, their trip could be delayed until the Carabao Cup final against Liverpool in March.

Club executives believed the PIF were happy to stay at St James’ Park but after seeing plans for a new stadium their opinion is thought to have shifted towards building a new ground which would be a stone’s throw away from the existing site.