The man who runs the Saudi Arabia Public Investment Fund (PIF) – Yasir Al-Rumayyan – says they may be ready to open a new office in London later this year.
They plan to open an office in New York quite soon as they have plans to expand around the globe.
He was interviewed on the David Rubenstein Show on Bloomberg TV.
The PIF is reported to be funding a takeover of Newcastle United FC, and Yasir Al-Rumayyan would likely become the Chairman with Ms. Amanda Staveley of PCP Capital Partners becoming the CEO.
She would assume the responsibility of running the club, which is the job Lee Charnley has at the moment.
The move comes as part of the group’s continuing expansion across the globe.
Here some of what Yasir Al-Rumayyan said:
“When we started, it was 40 people,”
“Today we have more than 700 and by the year-end, our target is to have more than 1000 employees in PIF.”
“The bulk of them will be in Saudi, but now we’re opening up in the financial capitals of the world.
“Hopefully by the end of this year we will have our second office, which is going to be in New York.”
“And potentially, London also will be in the second half of the year.”
He also says he would like to grow the PIF to $2T by 2030 – yes that’s two trillion dollars.
In the US – one trillion dollars is a million million dollars (10 to the power of 12 in mathematical terms).
That’s enough to buy some good players.
🙂
It’s interesting to hear the man talk and he speaks good English.
Here is the full interview.
Comments welcome.
131 comments so far
Anglo Saxon
Apr 1, 2020 at 1:29 PM
Comment #1A great man is hard on himself; a small man is hard on others.
toon22
Apr 1, 2020 at 1:32 PM
Comment #2This guy is just as likely to play as a striker for us as be our new chairman
geordietom
Apr 1, 2020 at 1:34 PM
Comment #3repost …
Tsunki …
do me a favour skip my posts as i’m not gonna feed your ego . got more important things going on at the moment . my wife aint very well at the moment . so just back off . i dont forget things this will all come back to haunt you . so im asking you nicely give it a rest …
droppy in Wallsend
Apr 1, 2020 at 1:39 PM
Comment #4Well now that petty back biting and point scoring in needless arguments is back I think I will take a break.
Maybe some use it as a distraction from what’s going on in the real world, I don’t know.
Can’t keep my cool at the moment, so better that I keep quiet.
People may remember me telling of an elderly man up the road from us and his struggles with his wife being taken into hospital with dementia, I saw him this morning and I’m sad to say the lady died last night. The guy is still clearly in shock and hadn’t even been able to visit for the last two weeks due to the pandemic. I broke social distancing protocol and gave him a hug, because we’re human beings and sometimes that is what is required. I’m devastated for him. Over 60 years together and such a sickening cruel ending.
It’s nice to important but it’s more important to be nice.
lochinvar
Apr 1, 2020 at 1:44 PM
Comment #5Just a diversion among all the shite but always makes me think of Amanda, don’t know why but if she arrives in Toon as Ashley departs then we need the mother of all street parties, conga around SJP and brown ale flowing from the fountains…..
https://www.youtube.com/watch?v=hdYPZzO-Wrg
geordietom
Apr 1, 2020 at 1:44 PM
Comment #6Droppy …
thats really sad mate good on your for breaking protocol keep safe young man …
geordietom
Apr 1, 2020 at 1:47 PM
Comment #7Loch …
i’m not drinking from them fountains i heard the mackems shite in them ….
😀
lochinvar
Apr 1, 2020 at 1:51 PM
Comment #8geordietom
that would be too technically complicated for them to do.
They just use their own backyards.
Pain in the Blog
Apr 1, 2020 at 1:51 PM
Comment #9Sad to hear, Droppy. I don’t blame you for dropping out of the blog for a while. Keep safe.
geordietom
Apr 1, 2020 at 1:53 PM
Comment #10Big Bruce Stars.
Apr 1, 2020 at 1:44 PM
Comment #39
Geordietom sorry but that’s pathetic I’d just go and make a cuppa and slink off if i were you.
So come on then, tell me what was so bad about my posts apart from ribbing the gullible over optimists? I’d like to see what was worth the grief I’ve been getting.
whats pathetic ? Me having a wife who’s not very well at the moment is that what your saying ???…
hibbit
Apr 1, 2020 at 1:53 PM
Comment #11Newcastle Brown Ale is a brown ale, originally produced in Newcastle upon Tyne, but now brewed by Heineken at the John Smiths Brewery in Tadcaster, North Yorkshire and also for export at the Zoeterwoude Brewery in the Netherlands.
geordietom
Apr 1, 2020 at 1:54 PM
Comment #12Loch …
yeah but whos backyard would they use mate …
geordietom
Apr 1, 2020 at 1:55 PM
Comment #13as the wouldn’t use their own …
dunno how that went in as i was typing @12
geordietom
Apr 1, 2020 at 1:56 PM
Comment #14hibbit …
does it still taste the same ?? …
cleveleysbob
Apr 1, 2020 at 1:57 PM
Comment #15Tsunki, just back after a quick sandwich break. Personally, even with the great unknown situation regarding Covid-19, if I had PIF’s cash, I’d snatch Ashley’s arm off, if I could get the club for say £300-320M. Think about the Premier league situation, (a) football is going to start again. (b) NUFC need approx £150M spent on new training complex academy + ground improvements and some better staff, roughly £100x150Million per season for players in 1st 3 years to build squad for success while academy turns out some future stars, that’s total investment outlay of £1.05B.
(c) look at current valuations of clubs better run than us, Liverpool £2Billion, Chelsea reportedly £3Billion, ManU £5Billion, Man C up to £10Billion.
It would take at least 5years to reach those levels, but with a full stadium, better commercial income (Spurs outstrip us by over £80M per year and we used to be above them) + the continued tv streaming rights (and they will continue, the demand is insatiable) even if they are lowered a bit, and done properly – the key missing element of today’s NUFC – then you have a successful business model with good financial returns reaping benefits in years 6 – 10 and beyond, no brainier as far as I’m concerned, only nigger in my woodpile is Ashley and I don’t trust him an inch!
hibbit
Apr 1, 2020 at 2:00 PM
Comment #16that’s a tragic story Droppy life’s a bitch at times,
some of the clowns on here don’t help with there selfish attitudes and there illusion of self importance
stay safe stay strong
Bills Son Is Back
Apr 1, 2020 at 2:03 PM
Comment #17BBS – You just don’t like it when someone disagrees is all.
HILARIOUS… ABSOLUTELY HILARIOUS. ? ? ?
The whole reason why the likes of me Munster and Jib get constant bile thrown at us is because the likes of YOU can’t/won’t/refuse to allow us to have a different opinion without chucking out the scorn, pi$$ taking pomposity and the type of bile spouted by OP.
I couldn’t give a monkey’s if someone disagree with me, never mind not like it.
Don’t keep kidding yourself BBS.
Although it did make me have a right larrrrrffffffff ?
hibbit
Apr 1, 2020 at 2:04 PM
Comment #18Tom not a clue never been a fan
cleveleysbob
Apr 1, 2020 at 2:06 PM
Comment #19On a general note.
Please could everyone try to be a little nicer to each other. Argument and banter are fine, there is no need to trade insults with anyone on here, we’re all supporters of the same great institution that is NUFC and of the aim to get Ashley out.
The current situation worldwide is horrible, my wife and I are both over 70 and have background health issues that don’t put us in the “vulnerable” camp but still on advisory lockdown as being at “high risk”. My sympathies go out to all of you either suffering from this or worried due to your existing conditions.
Keep well everyone, stay home, stay safe and we’ll all get that Street party sooner or later.
geordietom
Apr 1, 2020 at 2:10 PM
Comment #20hibbit …
i use to drink it when i was young never really liked it mate…
RobLeenio
Apr 1, 2020 at 2:11 PM
Comment #21Tom, yes it does – I used to drink it as a 17 year old first going out to my locals, and still drink it now, 30 years later and I’ve never noticed a change in the flavour.
It’s a good, solid, tasty British ale and loads of people around the World have only heard of our fair city through that medium.
cleveleysbob
Apr 1, 2020 at 2:11 PM
Comment #22Hibbit/Geordie, makes the best shandies ever though!!
bettyswallocks
Apr 1, 2020 at 2:12 PM
Comment #23My thoughts on blog interaction during these challenging and uncertain times is that we should remain in solidarity over the serious ongoing public health issues but to make these issues an all consuming topic of discussion will serve no purpose other than to create more worry.
I have to agree with Tsunki’s earlier comments when he pointed out that if we all agree with everything each other posts in a overly sycophantic manner then the blog will become boring and predictable .
This place has always thrived on a robust exchange of views , banter, mickey taking and humour so without being downright offensive I think we should carry on as normal as well as supporting each other through this unprecedented situation .
bettyswallocks
Apr 1, 2020 at 2:14 PM
Comment #24By the way Tsunki surely we are due an update from Camp Harrison . It’s been a while and there is a fair amount of restlessness in the ranks.
RobLeenio
Apr 1, 2020 at 2:15 PM
Comment #25Droppy, heartbreaking for your elderly neighbour. Horrible that he wasn’t able to be there for his wife in her final hours. What a terrible situation for him to endure, and to have to do that alone also. Well done to you for offering the comfort that you could.
geordietom
Apr 1, 2020 at 2:16 PM
Comment #26i just thought with brown ale not being made in Newcastle any more the taste would be different . i dont drink much now , when we go on a cruise i have a few but i’m allowed aint i …
😀
The mighty wyn
Apr 1, 2020 at 2:16 PM
Comment #27Take care droppy. Sad ending for your friend. I agree with you that it’s probably a good time to take a break from the blog, not that I post a lot.
The possible takeover, and that’s all it is at the minute gives us a little break from life and something to talk about but there’s too much argument on here about it.
Life is pretty uncertain at the minute. People should be pulling together everywhere
Stay safe
cleveleysbob
Apr 1, 2020 at 2:17 PM
Comment #28Just for info guys, SkySports, refunded my Sports package in full, no penalties for breaking contract and no additional costs if I want to re-sign up in future. Saved me £23/month, a small silver lining in dark days!! You have to ring them up though and because they’ve cut back on call centre staff, you might get a long wait. Didn’t bother me as retired and phone contract makes all my calls free, however long, so another no brainer.
RobLeenio
Apr 1, 2020 at 2:18 PM
Comment #29Did anyone mention this at any point?
https://twitter.com/SAFC04187891/status/1245142124628185088
Apparently we’ve signed a pre-contract agreement with Sunderland keeper Jon McLauchlin, 32, who will join us on a free in the Summer.
Presumably a replacement for Rob Elliott as our third keeper?
geordietom
Apr 1, 2020 at 2:18 PM
Comment #30Betty’s …
the blog would be boring if we all agreed mate …
hibbit
Apr 1, 2020 at 2:18 PM
Comment #31was in New York a couple of years ago and was surprised how many places actually stocked it, even though i don’t drink it was great to see it for sale in the big apple,
simon376
Apr 1, 2020 at 2:18 PM
Comment #32That’s terrible new Droopy, at least you have been there for him and done what you can, keep up the good work mate
Munster Mag
Apr 1, 2020 at 2:20 PM
Comment #33Cleveleys bob, my wife tried to cancel Sports and they said they are not taking cancellations calls, on the voicemail. What a shower! Ill try them again later.
Munster Mag
Apr 1, 2020 at 2:21 PM
Comment #34My first sicky from work was after a session of Broon. Even in my mid 20’s i was utterly wrecked the next day. Nice beer but not in big volume.
RobLeenio
Apr 1, 2020 at 2:23 PM
Comment #35Highlights of Newcastle 2, Liverpool 0 from 2012
https://twitter.com/NUFCThreatLevel/status/1245235833487179776
Reina red card for a headbutt on wor Nobby!
😀
cleveleysbob
Apr 1, 2020 at 2:24 PM
Comment #36Betty’s, I haven’t seen anyone say we should all agree, in fact I stated clearly that argument and banter are fine, it’s the petty name calling and offensive remarks that take the blog down the pan from time to time, you, tsunki and Geordie are right, it would be boring as hell without the disagreements and banter.
The mighty wyn
Apr 1, 2020 at 2:24 PM
Comment #37You can pause your sky sports on line and they will reinstate as soon as sport starts again
RobLeenio
Apr 1, 2020 at 2:25 PM
Comment #38As for why Ashley can apparently enter the USA – simple, he has resident status.
Also, he’s presumably a US tax-payer, given his business interests and property out there.
Different rules for the wealthy and the average joes…..
cleveleysbob
Apr 1, 2020 at 2:26 PM
Comment #39Munster, it’s worth persevering, they can be a shower, but we’re great to me over this and I read somewhere it’s their policy to allow this, keep trying.
simon376
Apr 1, 2020 at 2:27 PM
Comment #40Still love a bottle of brown. Shocking that no longer brewed up here, even when moved to Gateshead, that was sort of acceptable. If you have a sparkling wine can’t be called champagne unless made in that region. Let’s get it back here.
Maxim brewery kept the old Vaux stuff going and still local, can we not get something similar