PIF move to 'strengthen' Newcastle United after new director made himself clear on two offers
Jacobo Solis has been appointed to Newcastle United's board of directors.
Solis, who is the head of Europe direct investments in the international investments division at the PIF, has been directly involved with Newcastle since the takeover and has now taken up a formal position. The club have said today that Solis is 'closely aligned with the club's strategy and plans for the future'.
"Solis' appointment will further strengthen the club's board of directors," an excerpt from a short statement read.
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Eagle-eyed supporters will have previously spotted Solis sitting in on conference call in the 'We are Newcastle United' documentary while the club's board discussed two front of shirt sponsorship offers a couple of seasons ago. Solis stressed that Sela was 'definitely the choice for all of us'.
"We are in a great position with these two offers," he said in the meeting. "My question is how can we reflect that potential to go to the Champions League next year, which will create a lot of value for them, with some sort of performance bonus?"
The former investment banker and lawyer was also among those pictured alongside former owners Amanda Staveley and Mehrdad Ghodoussi and CEO Darren Eales when the club's hierarchy met their counterparts from AC Milan before Newcastle's first Champions League game in more than two decades at the San Siro last season.
Solis sits on the boards of LIV Golf, E1 Series and POSCO E&C, who have all received investment from the PIF, and the Spaniard's appointment follows that of Roger Thornton back in October. Thornton is head of property at Motcomb Estates Limited, an asset management company that focuses on a portfolio of global office, retail, hotel and leisure assets for the Reuben family.