Newcastle United has announced a significant change in its ownership structure, ending the controversial 14-year tenure of former owner Mike Ashley. The £300 million deal has brought in a Saudi-led consortium, primarily spearheaded by Saudi Arabia’s Public Investment Fund (PIF), which now holds an 80% stake in the club. The remaining shares are distributed between PCP Capital Partners and RB Sports & Media.
The Public Investment Fund, one of the world’s largest sovereign wealth funds, is chaired by Saudi Crown Prince Mohammed bin Salman and managed by Yasir Al-Rumayyan, who will now serve as the non-executive chairman of Newcastle United. This takeover has made Newcastle United one of the wealthiest clubs globally, with the PIF’s assets estimated at around £700 billion.
This acquisition marks a new era for Newcastle United, bringing with it high expectations and a promise of substantial financial investment in the club. The consortium has pledged to invest in the club’s infrastructure, squad, and the community, aiming to restore Newcastle’s former glory and competitiveness in the Premier League.
Despite the financial optimism, the takeover has not been without controversy. Concerns about Saudi Arabia’s human rights record have been raised, leading to mixed reactions from fans and human rights organizations. The Premier League approved the deal after receiving assurances that the Saudi state would not control the club.
Looking ahead, Newcastle United’s new owners are expected to make strategic changes, including potential managerial shifts, with current head coach Steve Bruce’s position under scrutiny. The consortium is focused on long-term growth and aims to build a squad capable of challenging for top honors.
This change in ownership is a pivotal moment for Newcastle United, offering the club a fresh start and the potential to rise as a dominant force in English football.
