After 14 years, Newcastle has new owners.
The club officially announced today (Thursday) that it has been acquired by the Saudi Arabian Public Investment Fund and control will pass to it, in exchange for £ 300 million.
The director of the PIF investment company, Yassir El Romanian: "We are proud to own one of the most famous clubs in English football. We are very excited to work together."
Amanda Stabley, in charge of closing the deal: "Our ambition - as that of the fans - is to produce a successful team that will compete for the big titles."
Meanwhile, Mike Ashley, the club's previous owner, will leave him after 14 years at the helm.
Will the big money march Newcastle to the forefront along with the rest of the big clubs?
An investment group led by the Public Investment Fund, and also comprising PCP Capital Partners and RB Sports & Media, has completed the acquisition of 100% of Newcastle United Limited and Newcastle United Football Club Limited from St.
James Holdings Limited.
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- Newcastle United FC (@NUFC) October 7, 2021
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