Saudi Arabia's Public Investment Fund have taken a number of steps to ensure the pandemic does not affect the fund's 'strategies and development plans', according to chief operating officer Bander Bin Mogren.
The PIF, of course, hoped to purchase an 80% stake in Newcastle United last year after forming a consortium with Amanda Staveley and the Reuben Brothers.
ChronicleLive previously revealed that the buyers had planned to invest £250m over a five-year period directly into the club plus additional sums over and above that into the community.
However, the PIF walked away last summer after encountering complications with the Premier League's owners' and directors' test.
But, on August 4, ChronicleLive reported that the PIF would be prepared to revisit the bid if the Premier League were willing to give the deal the green light.
The saga has now entered its next phase - arbitration - after Mike Ashley enlisted the help of two QCs, Nick De Marco and Shaheed Fatima, to represent Newcastle in the club's legal dispute with the top-flight.
The PIF will be watching on with interest and Mogren was actually added as a director to NCUK Investment Limited, a company linked to the bid, last April.
The PIF's chief operating officer has now explained how the fund, which has spent big during the pandemic, has coped with COVID-19.
"This year definitely saw unprecedented circumstances with the COVID-19 pandemic challenging local and global economies in a way that has never been seen before," Mogren told Entrepreneur. "Our hearts go out to all those individuals and families affected by this terrible pandemic.
"I am proud of how PIF was able to seamlessly navigate with restrictions during lockdown and operate in “business as usual” fashion without disrupting our work and commitment to achieving our goals and to our partners all while upholding and enforcing the proper measures for a safe environment.
"To ensure the fund runs smoothly during the pandemic, we worked with our crisis management committee around the clock so work could continue as planned despite the challenges.
"We actioned some contingency plans offering support both to all PIF employees to help them achieve their goals and, with it, the wider goals of the fund.
"Also, we enhanced our support to all our portfolio companies and projects in order to make sure that the pandemic would not affect our strategies and development plans."
