Latest news with #YasirAlRumayyan
New York Times
4 days ago
- Business
- New York Times
Transfer battle for Isak and Ekitike is a true test of Newcastle's ambition
Those inside Newcastle United knew this moment would come, when the essence of their challenger status would be challenged. How the club's decision-makers respond to Liverpool's attempts to lure Alexander Isak away from Tyneside will tell us a lot about Newcastle's true trajectory in the short-to-medium term. Advertisement Establishing themselves firmly among the footballing 'elite' — or 'No 1', as Yasir Al-Rumayyan, the club chairman and governor of Saudi Arabia's Public Investment Fund (PIF), Newcastle's 85 per cent majority owner, put it — is what they say they aspire to. Newcastle have made rapid, if stunted, progress inside four years. But the cliche really does apply now: actions will speak louder than words. For months, Newcastle have been unequivocal, publicly and privately: Isak is going nowhere. In March, Darren Eales, the outgoing CEO, described the idea of accepting an offer for Isak this summer as 'crazy'. Eddie Howe, the head coach, insisted as recently as May that the Sweden international 'is not for sale from my perspective'. The noises have always been that Newcastle believe Isak is borderline invaluable to them, with suggestions that offers north of £150million ($200m) would be required for them to even entertain the prospect of losing the 25-year-old. On Monday, The Athletic reported that Newcastle were aiming to pull off a coup by acquiring the much-coveted Hugo Ekitike from Eintracht Frankfurt. The messaging from those inside the club was clear: this is not a case of signing Ekitike and selling Isak, but using Ekitike and Isak in the same attack. Before a return to the Champions League, this felt like a game-changing declaration of intent. By Tuesday, The Athletic reported that Liverpool have communicated their willingness to pay £120m for Isak. This did not come in the form of an official bid and felt like a testing of Newcastle's position, especially given it is short of any abstract asking price (even if it is still an astronomical fee). As of Wednesday morning, the response from the top of Newcastle remained unchanged. Three simple words — 'not for sale' — are being repeated, time and again. Advertisement Newcastle's stance has been beyond bullish up until this point. Isak has three years remaining on his deal, they ideally want to tie him down to an extension and, unlike June 2024, they have no need to sell to ensure compliance with the Premier League's profit and sustainability rules (PSR). Al-Rumayyan is a huge fan of Isak and has made it clear that he will not countenance a player described as his favourite being sold. The theory appears sound, but now it is being tested. Newcastle are owned by one of the world's richest sovereign wealth funds and in four years, it has helped transform the club from relegation fodder into trophy winners and Champions League participants. Their squad has a variety of talented players, including Isak, Sandro Tonali and Anthony Gordon. They appear to be closing in on the world's biggest football clubs — but a significant gap still remains, one that can be measured in finances, prestige, titles and pulling power. Were Isak to be tempted — the assumption is he would be, but that it is just an assumption — then few would be surprised and it would make keeping hold of the striker more difficult, especially if he agitated to leave (something Newcastle have always felt he would not do, another prediction that may be stress-tested). While Liverpool may not be as alluring to modern players as Real Madrid or Barcelona, they are the Premier League champions and arguably England's closest equivalent. So, this feels like a critical juncture in Newcastle's attempts to cement themselves as a member of the footballing gentry. Yes, selling Isak for £120m-plus would essentially extinguish any PSR constraints for the foreseeable future and could be reinvested into the squad. Should Ekitike be acquired — which, given Liverpool have formalised their interest in the Frankfurt forward, is far from certain — he would represent a readymade replacement with money left to spend. Advertisement Ekitike is nearly three years younger than Isak and unproven in the Premier League but he has world-class potential. However, substituting Isak for Ekitike represents a calculated gamble — just as signing the Sweden international did in August 2022 — because the Frenchman still has to translate his talents into English football. Winning the race for Ekitike would constitute a genuine statement, especially after he rejected a move to Tyneside in 2022. It would add greater credence to the idea that perceptions of Newcastle are shifting. More important, however, is how they handle Liverpool's pursuit of Isak. Questions have been raised about PIF's commitment to Newcastle, given the lack of (promised) communication on what is happening with the stadium and the failure to build a new training ground. Such scepticism has always been dismissed by senior figures, who insist financial backing is evidence of the owners' ambitions and that such critical investment calls will be made in time. With that in mind, nothing would be more informative of how serious their intentions are than resisting Liverpool's overtures. Even if Newcastle are left with an unhappy player and end up accepting an offer for Isak in 12 months, at least that might make more business sense as he enters the final two years of his deal. Selling Isak now could have an extremely damaging effect. Newcastle's position has been so categorical that, should they relent, the signals it would send have the potential to set the project back considerably. Other top clubs may sense weakness and look to pick off key players, while those stars may begin to doubt their own futures. Should Liverpool beat them to signing Ekitike, that would be a blow, but a bearable one. The fallout of taking Isak to Anfield would be felt for years. Beyond losing Isak's quality and goals, Newcastle would be losing further ground on the established elite. Three words have been repeated countless times by those at Newcastle, but this represents the ultimate examination of whether Isak really is 'not for sale'. (Top photos: Getty Images)
Asharq Al-Awsat
25-06-2025
- Sport
- Asharq Al-Awsat
Arab Golf Federation Launches Elite Scholarship Camp in Riyadh
The Arab Golf Federation has announced the launch of the 'elite sport scholarship camp,' one of its flagship strategic initiatives aimed at developing a new generation of Arab golf champions, empowering emerging Arab golfers and paving the way for them to reach the highest levels of international competition by 2035. Outstanding players will be selected to join a professional training pathway in partnership with the renowned IMG Academy, SPA reported. The camp will take place over four days at the Riyadh Golf Club, bringing together 16 male and female players from across the Arab world. These athletes were carefully chosen based on their performances in regional and international tournaments, as well as their current rankings. President of the Arab Golf Federation Yasir Al-Rumayyan said: "We are committed to establishing a strong and sustainable infrastructure for golf in the Arab world. At the same time, we are working closely with leading international partners to ensure our most promising young players receive the highest standards of training and professionalism."
Gulf Business
17-06-2025
- Business
- Gulf Business
Riyadh Air signs deal for 50 Airbus A350-1000 aircraft at Paris Air Show
Image: Riyadh Air Riyadh Air, Saudi Arabia's new national carrier, announced an order for 50 Airbus A350-1000 aircraft during the 55th annual Paris Air Show, marking a major step forward in the kingdom's ambitious aviation expansion. The agreement includes 25 firm orders with options for an additional 25 aircraft. The signing ceremony took place at Le Bourget Airport and was attended by senior officials including PIF governor and Riyadh Air chairman Yasir Al-Rumayyan, Riyadh Air CEO 'Our new national carrier is set to launch in the near future and represents a key component of the kingdom's infrastructure,' said Al-Rumayyan. 'It will connect Riyadh to over 100 destinations worldwide by 2030.' He added that the A350-1000 acquisition reinforces Saudi Arabia's position as a global aviation hub. Image: Riyadh Air Riyadh Air aims to enhance international connectivity with top in class fleet The airline's vision is to offer best-in-class service while playing a strategic role in economic diversification, in line with PIF's strategy to unlock high-growth sectors. The launch of Riyadh Air is a key enabler of the National Aviation Strategy and the National Tourism Strategy, which aim to enhance international connectivity, boost Riyadh's standing as a global business destination, expand air cargo capacity, and support the kingdom's growing tourism sector by increasing access to cultural and natural attractions. The A350-1000s, Airbus' largest and most modern wide-body aircraft, will support Riyadh Air's long-haul network and global ambitions. In other news, earlier this month, Riyadh Air and Air France-KLM signed a MoU, marking a significant step forward in global connectivity for guests traveling between Riyadh, Paris, Amsterdam, and destinations far beyond. Subject to regulatory approvals, the collaboration aims to gradually introduce a wide range of benefits for guests and to unlock new opportunities across Western Europe, North and South America, the Middle East, Asia, and Saudi Arabia.
Arabian Business
16-06-2025
- Business
- Arabian Business
Riyadh Air orders up to 50 Airbus A350-1000 jets to ahead of 2025 launch
Riyadh Air has signed a major agreement with Airbus to purchase up to 50 A350-1000 aircraft, reinforcing its ambitious plans to become a global aviation leader. The deal, unveiled at the 55th Paris Airshow, includes 25 firm orders and purchase rights for an additional 25 aircraft. The agreement was signed at a ceremony attended by top aviation and government leaders, including Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of Riyadh Air, Riyadh Air CEO Tony Douglas, and Airbus Commercial Aircraft CEO Christian Scherer. Riyadh Air orders up to 50 Airbus planes With an operational range of more than 16,000km, the Airbus A350-1000 will empower Riyadh Air to connect the Saudi capital with major cities worldwide, supporting its goal of flying to more than 100 global destinations by 2030. The aircraft's range and capacity align perfectly with Saudi Arabia's plans to host global events including Riyadh Expo 2030 and the FIFA World Cup 2034. Yasir Al-Rumayyan, PIF Governor and Chairman of Riyadh Air said: 'Our new national carrier is set to take to the skies in the near future, and as a fundamental element of the Kingdom of Saudi Arabia's infrastructure, will connect our capital city to over 100 international destinations around the globe by 2030. 'With its outstanding range, adding the Airbus A350-1000 to our fleet demonstrates the strategic contribution of Riyadh Air in positioning Saudi Arabia as a global aviation hub.' Riyadh Air will begin operations in 2025 with a three-type aircraft fleet, of which the A350-1000 will serve as a cornerstone. With up to 182 aircraft now on order, the airline aims to offer best-in-class passenger experiences through innovative cabin design, stylish First-Class options, and state-of-the-art digital and entertainment systems. Riyadh Air CEO Tony Douglas said: 'Riyadh Air is making significant progress as we move towards our first flight later this year and agreeing this deal for up to 50 Airbus A350-1000 aircraft is an important statement of intent. 'Already in 2025, we have received our AOC and unveiled our new cabin interiors and having now completed our initial three aircraft orders, we are in a position to fulfil our ambitious network goals. 'We play an important role in the evolution of the Saudi aviation ecosystem with the aim to create 200,000 direct and indirect jobs and contribute almost $20bn to the Kingdom's non-oil GDP.' Christian Scherer, Chief Executive Officer Commercial Aircraft at Airbus, said: 'We are honoured to support Riyadh Air's bold vision with the A350-1000, the world's most modern and efficient widebody aircraft. 'This partnership reflects our shared commitment to innovation and decarbonization whilst connecting the vibrant Kingdom of Saudi Arabia to the world! Riyadh Air's selection of the A350-1000 underscores the aircraft's unmatched capability to deliver premium passenger experience and operational excellence—perfectly aligned with the ambitions of Vision 2030.' Backed by Saudi Arabia's sovereign wealth fund, PIF, Riyadh Air is a key driver of the Kingdom's Vision 2030 strategy to diversify its economy and elevate its global connectivity. The airline is expected to play a significant role in: Boosting international passenger and cargo traffic Supporting the Saudi National Transport and Logistics Strategy Enabling tourism by linking travellers with Saudi Arabia's cultural, historic, and natural sites Positioning Riyadh as a global business and travel hub With operations launching in late 2025, Riyadh Air is poised to become one of the most advanced carriers in the world, setting new standards in aviation experience, sustainability, and connectivity.
Arab News
16-06-2025
- Business
- Arab News
Riyadh Air orders up to 50 Airbus A350 jets to expand long-haul fleet
JEDDAH: Saudi Arabia's Riyadh Air has signed a deal to acquire up to 50 Airbus A350-1000 aircraft as it gears up to launch operations later this year. The agreement, signed at the 55th Paris Air Show, includes 25 firm orders and purchase rights for an additional 25 aircraft. The deal supports Riyadh Air's plan to build a wide-body fleet capable of serving over 100 destinations globally by 2030. Owned by the Public Investment Fund, Riyadh Air was unveiled in March 2023 by Crown Prince Mohammed bin Salman as part of Saudi Arabia's strategy to become a global aviation hub by expanding connectivity to over 250 destinations and tripling annual passenger traffic to 330 million. In a statement, Yasir Al-Rumayyan, PIF governor and chairman of Riyadh Air, said: 'Our new national carrier is set to take to the skies in the near future, and as a fundamental element of the Kingdom of Saudi Arabia's infrastructure, will connect our capital city to over 100 international destinations around the globe by 2030. He added: 'With its outstanding range, adding the Airbus A350-1000 to our fleet demonstrates the strategic contribution of Riyadh Air in positioning Saudi Arabia as a global aviation hub.' The A350-1000s, with an operational range exceeding 16,000 km, will enable long-haul connections ahead of high-profile events such as Riyadh Expo 2030 and the FIFA World Cup 2034. In April, the airline received its Air Operator Certificate from the General Authority of Civil Aviation, authorizing it to commence flight operations after meeting all regulatory, safety, and operational requirements. 'Riyadh Air is making significant progress as we move towards our first flight later this year and agreeing this deal for up to 50 Airbus A350-1000 aircraft is an important statement of intent,' said Tony Douglas, CEO of Riyadh Air. The airline's launch supports Saudi Arabia's broader efforts to diversify its economy. According to the General Authority for Civil Aviation, the aviation industry generated $32.2 billion in tourism receipts and supported more than 958,000 jobs in 2023 — 241,000 in aviation and 717,000 in tourism-related sectors. 'We play an important role in the evolution of the Saudi aviation ecosystem with the aim to create 200,000 direct and indirect jobs and contribute almost $20 billion to the Kingdom's non-oil GDP,' added Douglas. The sector is a key pillar of the National Transport and Logistics Strategy, which aims to raise its gross domestic product contribution from 6 percent to 10 percent by 2030. Christian Scherer, CEO of commercial aircraft at Airbus, said: 'This partnership reflects our shared commitment to innovation and decarbonization whilst connecting the vibrant Kingdom of Saudi Arabia to the world!'
