Saudi Arabia's Public Investment Fund (PIF) set out to disrupt, but the fund has sent tremors through the world of sport in a very different way this week.

On Wednesday, Yasir Al-Rumayyan - the fund's governor and chairman of Newcastle United - confirmed PIF were reviewing "some deals and investments".

"Whether due to the war or reasons related to economic feasibility, we continuously reassess our priorities," he told the state-owned Al Arabiya news channel.

Those words were uttered in a week PIF sold a 70% share in Saudi Pro League club Al-Hilal for £276m.

They were voiced amid mounting speculation that the fund is to withdraw its backing for LIV Golf.

But what about Newcastle?

Speculation has inevitably intensified that the PIF may look to reduce or end its funding in some of its other sports investments.

Saudi Arabia's sovereign wealth fund's newly-unveiled strategy for 2026 to 2030 has placed an emphasis on more sustainable investments after the country recorded a major budget deficit of $73bn last year, driven by increased spending and lower oil revenues.

This position also appears to have been accelerated by the Iran war, which has caused disruption to Saudi Arabia's oil exportation.

But even before that, there was a clear sense that there had been a shift in approach, with budgets being tightened, and the vast expenditure connected to the 2034 World Cup prioritised ahead of other sports investments.

However, one source familiar with PIF has told BBC Sport that its divesting of its stake in Al-Hilal was always the intention, and that those in charge remained totally committed to Newcastle, who the fund own a majority stake in.

They insisted that the sale should not be interpreted as a sign of weakened interest in its sporting portfolio, which remains a key part of the country's plans as it seeks to boost tourism, diversify the economy, and improve the reputation of the country.

Newcastle's hierarchy have also been personally informed that the club are unaffected. Those at the top speak to PIF every day, and nothing has changed from their perspective.

A PIF delegation is due on Tyneside the week after next, as planned, while an announcement on a major capital investment is understood to be in the pipeline.

Newcastle are one of the smaller investments in PIF's portfolio and, conversely, senior figures at the club have always maintained it is also one of the fund's biggest in terms of engagement.

Given the top flight and Uefa's respective financial rules, which limit spending, this was always viewed as a long-term project following the takeover in 2021.

It has required a different approach to the especially aggressive stance PIF subsequently adopted with LIV Golf.

The Newcastle chiefs' goal to fight for the biggest prizes in the game by 2030 feels a long way away right now, with the club in 14th place in the Premier League.

But it has been very much "business as usual" at St James' Park this week following PIF's reassessment of priorities elsewhere.

That was apparent when head coach Eddie Howe held his pre-match news conference on Friday before the visit of Bournemouth.

The majority of questions understandably concerned the team's poor form and Howe's future as he reiterated his desire to "fight until the end".

Howe has been the owners' most significant appointment, leading Newcastle to Champions League qualification in 2025 and 2023, and ending a 70-year wait for a major domestic trophy by winning the League Cup last season.

The thirst for further success has been made clear to Howe every time he has encountered Al-Rumayyan over the years.

Yet there have also been queries about Newcastle's direction of travel from external quarters as the wait for updates concerning the future of St James' Park and a new state-of-the-art training ground goes on.

"I know behind the scenes there's a lot of work going on, whether that's the stadium, training ground, extensions here," Howe said on Friday. "The work is happening.

"Quite what gets released and when? I don't know. That's probably my biggest judgement on the ownership's passion and enthusiasm for the role.

"I can categorically tell you there's a lot of people here frantically working to improve everything for the future."

There have been huge changes elsewhere since the scrutinised £305m buy-out, which was opposed by human rights campaigners.

As well as the personnel of the team and staff being very different - at all levels - there has been substantial investment in training facilities, the academy and the women's team.

Hundreds of millions have also been pumped into to the club to help with day-to-day running costs.

Newcastle's revenues have more than doubled from £140.2m in the final full campaign of former owner Mike Ashley's stewardship to £335.3m in the club's most recent set of accounts from last season.

The club posted a pre-tax profit of £34.7m in the latter, albeit it is worth noting that the sale of the lease of St James' Park to a subsidiary company controlled by the owners prevented an eye-watering loss.

Yet it is still far removed from the £3.7bn-plus of funding which LIV Golf has relied on.

"I think the future of the club looks really bright," Howe added.

"No one wants to hear the 10-year plan or about the years ahead but while they're here, the ownership will drive the club forward. I have no doubt about that.

"Of course there is a want and need for immediate action but it will happen. It's just a case of when."