Finally Saudi-led consortium takeover Newcastle United

By Rasaq Adebayo

The £300m takeover of Newcastle United has officially been completed, with a Saudi-led consortium ending Mike Ashley’s 14-year ownership of the club.

An investment group led by Public Investment Fund (PIF) and also comprises PCP Capital Partners and RB Sports & Media has completed the acquisition of 100% of Newcastle United Football Club.

The Premier League confirmed the takeover in a statement on Thursday, saying it had received “legally binding assurances” that the Kingdom of Saudi Arabia will not control Newcastle United.

Newcastle’s new owners are expected to replace Steve Bruce as head coach, but no decision has yet been made on when this might happen.

Yasir Al-Rumayyan, Governor of PIF said, “We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football.

“We thank the Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them.”

Share on Facebook

Tweet

Follow us