Who is Yasir Al-Rumayyan? Newcastle United's potential new chairman

Who is Yasir Al-Rumayyan? Newcastle United's potential new chairman

Despite the coronavirus being the talk of most football tabloids in the past month, a new wave has been building at Newcastle.

The Premier League club is on the verge of a takeover with owner Mike Ashley about to sell the once English giants to Saudi Arabia tycoon Yasir Al-Rumayyan.

But who is Rumayyan?

The Harvard Business School graduate is a rarity in Saudi business circles, with the majority of the country's organizations headed by members of the Al Saud royal family, according to Sky Sports.

The investment banker has been managing the country's Public Investment Fund (PIF) from September 2015 after being appointed to that position by Saudi's Crown Prince, Mohammed bin Salman.

In five years at the helm of PIF, the institution has more than doubled the global assets it now manages to more than £264bn, making it one of the largest sovereign wealth funds in the world.

Al-Rumayyan aims to increase that figure to £1.6trillion by 2030 gives an indication of his plans for the organisation, which will own 80 per cent of the Premier League club once the takeover is confirmed.

Along with a seat on the board of global technology giants Uber, Al-Rumayyan plays a key role in the country's Vision 2030, an ambitious reform blueprint to wean Saudi off its dependence on oil and drive an economic strategy in the post-oil period.

He is the chairman of the board of the country's oil company 'Saudi Aramco', one of the largest companies in the world and, according to Bloomberg News, the most profitable company on the planet.

The wealthy banker has a love of golf and is the boss of Golf Saudi, the country's fledgling golf association.

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