A lot has been said about PIF and I have just tried to find details about PIF. PIF is a consortium of investors chaired by Mohammed bin Salman Al-Saud who is the Prince of Saudi Arabia and Prime Minister of the Kingdom of Saudi Arabia. It turns out that PIF manages and invests in Saudi Arabia. They are very rapidly developed. Currently, PIF is one of the largest public investment institutions in the world with an estimated asset value of 620 billion USD or 514 billion pounds. Currently PIF Public Investment Fund owner Newcastle owns 80 percent of Newcastle now also owns 75 percent shares of Al Ittihad, Al Ahli, Al Hilal, and Al Nassr
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https://sport.tempo.coBy the way, if I am not mistaken, I have reviewed this more than a month ago. I feel that many people still don't want to know that this scenario is a project of the Saudi kingdom and the PIF company. the aim of this project is not only to bring the Saudi League on a par with other top European Leagues. but also to increase Saudi Arabia's popularity in sports, and aim to host the 2030 world cup later.
On the other hand, PIF has a mission to make Saudi Arabia a center for economic transformation by 2030. this ambition is realized through the mission of actively investing long-term capital to obtain re-financed as sustainable. besides that, continuing from PIF's mission, it also has the goal of becoming a global investment partner and empowering economic development and diversification for the Saudi Arabian kingdom's economy.
The first step they took was successful, in fact the Saudi League became a hot topic in the eyes of the world. in fact, this move is different from what china is doing with its super league. their goal is clear, not only for football, but to open doors for all business sectors starting from football. that is why, several clubs do not hesitate to bring in top European players even with fantastic salaries.