Amanda Staveley 'excited about Newcastle's future' after £300m Saudi takeover completed as Mike Ashley reign ends
AMANDA STAVELEY has revealed her excitement after finally spearheading the takeover of Newcastle United.
The 48-year-old has led the Saudi Arabia-backed consortium to the takeover of the Magpies since 2017.
And after much wrangling, the mega-connected businesswoman has finally been successful after the £300million deal was given the go-ahead.
The Saudi government lifted its ban on Qatar broadcaster beIN Sports, giving the green light for the takeover to be completed.
That leaves the Saudi Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, owning 80 per cent of the Newcastle.
Now the takeover has been confirmed and Mike Ashley’s miserable 14-year reign owning the North East club is over, Staveley has spoken to the long-suffering Toon Army for the first time.
Staveley, Chief Executive Officer of PCP Capital Partners, said: “This is a long-term investment. We are excited about the future prospects for Newcastle United.
“We intend to instill a united philosophy across the Club, establish a clear purpose, and help provide leadership that will allow Newcastle United to go on to big achievements over the long term.
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“Our ambition is aligned with the fans – to create a consistently successful team that’s regularly competing for major trophies and generates pride across the globe.”
The long-wait for Newcastle supporters finally ended just after 5pm today when takeover was confirmed by the Premier League.
A statement read: “The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media.
“Following the completion of the Premier League's Owners' and Directors' Test, the club has been sold to the consortium with immediate effect.
“The legal disputes concerned which entities would own and/or have the ability to control the club following the takeover.
“All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club’s ownership.
“The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.
“All parties are pleased to have concluded this process which gives certainty and clarity to Newcastle United Football Club and their fans.”
A Newcastle statement added: “An investment group led by the Public Investment Fund (PIF), and also comprising PCP Capital Partners and RB Sports & Media (the “Investment Group”), has completed the acquisition of 100% of Newcastle United Limited and Newcastle United Football Club Limited (“Newcastle United” or the “Club”) from St. James Holdings Limited.
“All requisite approvals have been obtained from the English Premier League and the acquisition was completed on 7 October 2021.
“The Investment Group is comprised of long-term, patient investors who have every confidence in the future success of the Club. Today’s announcement is the conclusion of a thorough and detailed process that has allowed the Investment Group to arrive at a deal that benefits all stakeholders and will leave Newcastle United well-placed to pursue a clear, long-term strategy.
“His Excellency Yasir Al-Rumayyan, Governor of PIF, will serve as Non-Executive Chairman of Newcastle United. Amanda Staveley, chief executive of PCP Capital Partners, will have one seat on the board. Jamie Reuben will also be a director of the Club, representing RB Sports & Media.
“For PIF, one of the world’s most impactful investors, the acquisition is in line with its strategy of focusing on key sectors including Sports and Entertainment, and aligns with PIF’s mission to actively invest over the long term – in this case, to harness the Club’s potential and build upon the Club’s legacy.”
Al-Rumayyan said after the deal was completed: “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.”
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