Skip to content
Daily News
Lyon Owner Weighs Listing French Football Club In New York
Dispute Delays Spending Of Chelsea FC’s $2.6 Billion Ukraine Fund
Published by: dailynews
Published on:

Yasir Al-Rumayyan’s Sports Deals Enhance Saudi Wealth Fund Reputation

Published by: dailynews
Published on:

A few months before Newcastle United clinched a return to Europe’s top football competition the Champions League after two decades on the sidelines, Yasir al-Rumayyan flew the team to his Riyadh residence for a December pep talk.

It had been just over a year since the club’s acquisition by Saudi Arabia’s Public Investment Fund, and the 53-year-old PIF chief and Newcastle chair rallied the players with a speech before they bonded over a game of simulated golf.

While Newcastle was experiencing a turnround in its fortunes, Rumayyan’s other big sports venture, the upstart LIV golf tour, was flailing as it struggled to attract sponsors and battled with the US PGA in the law courts. The foray into golf, a personal obsession of Rumayyan’s, did not seem promising.

Read the full story on the Financial Times here.