It has been just over three years since the Public Investment Fund of Saudi Arabia completed its £305 million buy of Newcastle.
Al-Rumayyan, the PIF governor and Newcastle chairman, was in attendance at Wembley and got right into the festivities.
Newcastle United have won their first trophy after PIF’s acquisition in October 2021.
Yasir Al-Rumayyan has promised to provide more trophies to Newcastle United after the club finally broke its long trophy drought.
The Magpies have won a trophy for the first time in 56 years, capturing the League Cup on Sunday after defeating Liverpool 2-1.
Al-Rumayyan entered the pitch after lifting the prize from the royal box. As he lifted the cup aloft in front of 32,000 Georgians, he delivered a stirring 11-word remark that was captured by television cameras.
What’s his message? “That’s the first, and it’s not going to be the last” .
In addition to Al-Rumayyan’s words, PIF also issued a message via their official social media pages, which read: “#PIF congratulates @NUFC on the club’s historic victory in the Carabao Cup final today at Wembley Stadium, London. #NUFC.”
Yasir Al-Rumayyan wants Newcastle United to be number one
The Premier League Profitability and Sustainability Rules (PSR) have limited the club’s investment on new players, resulting in Howe’s squad going three transfer windows without making a key addition.
“I think when PIF took over, and don’t want to speak for PIF, that is very difficult to do, I think the landscape was different then, compared to now,” pointed out Howe.
Al-Rumayyan has previously stated that he wants Newcastle to be “number one”. Despite clearing the first obstacle of winning a trophy, the club’s progress has stalled overall.
“A lot has changed in terms of PSR, the most significant change being our inability to spend and our need to follow guidelines to avoid points deduction. Of course, this has an impact on the club’s ability to grow as swiftly as they would like.
“I don’t believe the dream dies; rather, it takes a lot longer. The most important thing is for us to increase our revenue streams. Bring additional money into the football club, which we do through sponsorship and other means.
“That is the major thing we need to focus on over the next ten years; whether I am lucky enough to witness any of it, who knows. So the dream is not over; it will just take a lot longer.”
