Saudi Arabia Public Investment Fund takeover Newcastle United completely
Saudi Arabia Public Investment Fund takeover Newcastle United completely
Summary
- Saudi Arabia Public Investment Fund obtained more than 80% shares to complete the complete takeover of Newcastle United.
- Newcastle United finally have a new owner after Mike Ashley ended his 14 year ownership of the club.
- Saudi Arabia Public Investment Fund have completed the complete takeover of Newcastle United of which was valued 340 million dollars.
Saudi Arabia Public Investment Fund takeover Newcastle United completely
This came as good news to the football world and particularly the Newcastle fans that have suffered immensely under the rule of Mike Ashley for fourteen years. The Saudi Arabian Public Investment of which includes the PCP capital partners together with RB sports and media. The Saudi Arabia Public Investment Fund obtained more than eighty percent of the shares in order to obtain a full takeover of Newcastle United. Fans took their joy to the streets where they heard that the club was finally taken over by the Saudi firm.
Back in 2020, the Saudi Arabia Public Investment Fund tried to take over the club but there were some challenges and they had to withdraw. But they went back and resolved their problems with BEIN sports and their proposition to takeover Newcastle club was agreed by the premier league. This ended the fourteen years rule of Mike Ashley in Newcastle where he took over the club back in the year 2007 and since then has never won any trophy for the Magpies. Steve Bruce the current manager of Newcastle is also expected to resign as the new leaders are in search of a new manager.
Newcastle was valued to be three hundred and forty million dollars and was announced to the fans on Thursday that the Saudi Arabia Public Investment Fund had successfully taken over Newcastle United. Several players at Newcastle United including Allan Saint Maximin and Joe Willock went to social media to express their joy after a new club statement from Newcastle United announced that the club was now under the Saudi Arabia Public Investment Fund and the future is looking bright.
