PIF have the power to turn Newcastle United into a footballing powerhouse.
That’s why there was so much excitement last year when a deal to buy the club was agreed with Mike Ashley.
PCP Capital Partners were set to pay £305million for the club. 10% would be owned by Amanda Staveley, 10% by the Reuben brothers, and the remaining 80% would go to PIF.
The Saudi involvement has been the blessing and the curse of this takeover saga. It is their money that could take Newcastle to unimaginable heights. However, it is their presence that stopped the Premier League making a decision.
Ultimately, they withdrew from the deal last July. However, the saga continues to rumble on.
Ashley has two legal battles against the Premier League, as he looks to resurrect a deal.
And now we have a little bit more clarity on when those battles will take place.
Arbitration will begin in July, although we do not know how long it will take.
As for the anti-competition case, the Premier League now have until June 11th to respond after being handed an extension.
This is good and bad news. In a positive sense, at least we know the legal battles are on the horizon, which should lead to a conclusion.
However, the timing of both cases mean that we may still go into next season owned by Ashley no matter what.
The longer the saga goes on, the more unlikely it feels that a deal will be completed.
According to the Athletic, it has been rumoured that PIF have seriously considered bidding for other clubs.
Just months ago they were linked with buying a stake in Inter Milan.
These reports suggest that PIF are very serious about buying a football club, but not necessarily Newcastle. Eventually, there may come a time that they move on to someone else.
The longer the legal battles go on, the more fans will worry that PIF will find someone else to invest in.
And without them, is a deal even possible?
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