How much have Newcastle spent on transfers under PIF?

Newcastle United have the backing of the richest owners in world football following the Saudi Arabia Public Investment Fund’s (PIF) takeover in late 2021.

PIF became majority shareholders in October 2021, and with 80% of the club’s shares, they became the de-facto owners of the St James’ Park club.

Below, FootballTransfers runs through how much Newcastle have spent since PIF took over.

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How much have Newcastle spent on transfers under PIF?

Newcastle have spent a total of €508.3 million on transfers since PIF took over in 2021.

Their first major signing after becoming the majority shareholders at St James’ Park was Kieran Trippier, while Chris Wood, Bruno Guimaraes and Dan Burn also joined the club during PIF’s first transfer window.

Six months later, Newcastle spent big again, ensuring that 2022-23 is their biggest spending season under PIF so far. The Magpies splashed €185.8m on Alexander Isak, Anthony Gordon, Sven Botman, Matt Targett, Nick Pope, Harrison Ashby, Charlie McArthur and Garang Kuol.

Newcastle qualified for the Champions League that season and celebrated by signing Sandro Tonali, Tino Livramento, Harvey Barnes and Yankuba Minteh.

But having missed out on European football during the 2023/24 season, the summer proved difficult for Newcastle, with PSR issues limiting them to just three major signings in William Osula, Odysseas Vlachodimos and Lloyd Kelly, as well as the permanent acquisition of Lewis Hall following his loan spell.

How much have Newcastle earned through sales under PIF?

Newcastle have earned a total of €127.3m through player sales since PIF took over in 2021.

What is Newcastle’s net spend under PIF?

Newcastle’s net spend under PIF is €381m.

Who are Newcastle’s most expensive signings under PIF?

Alexander Isak is Newcastle’s most expensive signing under PIF. The Sweden international joined the Magpies from Real Sociedad for a fee of €70m in 2022.

Italy midfielder Sandro Tonali is second on the list, courtesy of his €64m transfer from AC Milan in 2023. He was suspended for breaching betting regulations just months into his Newcastle career but has since become an integral part of Eddie Howe’s side.

Anthony Gordon (€45.6m) is Newcastle’s third most expensive signing since PIF became owners, while Harvey Barnes (€44m) and Bruno Guimaraes (€42.1m) complete the top five.

Who are Newcastle’s most expensive sales under PIF?

Elliott Anderson is Newcastle’s most expensive sale under PIF. The midfielder left the Magpies to join Nottingham Forest for a fee of €41.2m in 2024.

Yankuba Minteh is the second most expensive sale under PIF after he signed as a teenager for Brighton in 2024 for €35m.

Allan Saint-Maximin is Newcastle’s third most expensive sale under PIF. The tricky winger left the Magpies to join Al Ahli for a fee of €27.2m in 2023.

Chris Wood is the fourth biggest Newcastle sale under PIF. He joined Nottingham Forest for €17m.

Miguel Almiron (€9.5m) is Newcastle’s fifth biggest sale after re-joining Atlanta United in 2025.