The Saudi-Led Takeover Of Newcastle Football Club Has Been Completed

Newcastle Takeover: Saudi-led consortium full deal for membership

TAKEOVER COMPLETE

A Premier League assertion learn: “The Premier League, Newcastle United Soccer Membership and St James Holdings Restricted have right this moment settled the dispute over the takeover of the membership by the consortium of PIF, PCP Capital Companions and RB Sports activities & Media.

“Following the completion of the Premier League’s Homeowners’ and Administrators’ Take a look at, the membership has been offered to the consortium with fast impact.”

The Premier League, Newcastle United Football Membership and St James Holdings Restricted have right this moment settled the dispute over the takeover of the membership by the consortium of PIF, PCP Capital Companions and RB Sports activities & Media.

— Premier League Communications (@PLComms) October 7, 2021

WHAT HAPPENS NOW?

A Saudi-led consortium are set to finish their takeover of Newcastle United bringing Mike Ashley’s 14-year possession of the membership to an finish, however what does it imply going ahead?

The takeover will contain Saudi Arabia’s Public Funding Fund (PIF) taking a controlling 80 per cent stake within the membership, with the buying consortium led by Amanda Staveley.

Sky Sports activities Information reporter Keith Downie explains how and why Newcastle are on the verge of changing into one of many richest soccer golf equipment on the planet.

NEWCASTLE’S NEW OWNERS ‘EXTREMELY PROUD’

Newcastle’s new house owners have launched an announcement following the affirmation the takeover has been accomplished.

Commenting on the settlement, His Excellency Yasir Al-Rumayyan, Governor of PIF, mentioned: “We’re extraordinarily proud to develop into the brand new house owners of Newcastle United, probably the most well-known golf equipment in English soccer.

“We thank the Newcastle followers for his or her tremendously loyal help through the years and we’re excited to work along with them.”