Rory McIlroy has been talking about Newcastle United, LIV Golf and Saudi PIF ownership.
The Manchester United fan comparing what has happened in the two sports.
Newcastle United now have 15% minority ownership via the Reuben family, with Saudi PIF majority 85% owners.
Whilst when it comes to LIV Golf, the Saudi PIF having already invested billions in creating a rival to the PSG Tour, that is compared to investing hundreds of millions in buying and running Newcastle United.
Rory McIlroy telling the Stick to Football podcast: “The Saudi PIF have spent billions on LIV…and then I look at what they have done with Newcastle United. There are financial regulations around football…so it is not as if they can just go out and spend five billion [pounds], but in golf, they could. I just think what they have done in Newcastle, and I would say they have done a great job from where Newcastle United were to where they are now…I think if they had just approached the golf in a similar way, we wouldn’t be at this point.”
The Reubens and Saudi PIF got a real bargain with Newcastle United, buying it from Mike Ashley for a bargain £305m when Mike Ashley panicked and agreed to sell the club, after he was forced to give 10,000+ free season tickets away to fill vast areas of empty seats, after thousands and thousands of season ticket holders boycotted in protest at his running of the club.
The Newcastle United owners could already sell the club at a significant profit but seeing what has happened elsewhere in the Premier League, if they get it right then NUFC could see its valuation massively increase in the years to come.
With LIV Golf though, it has been a disaster for Saudi PIF, getting so little back for the billions already ploughed into the project.