The toon army has a new owner after 14 years under Mike Ashley.
The takeover of Newcastle United F.C. was completed on 7th October 2021 by the Public Investment Fund of Saudi Arabia (PIF). The takeover sees Saudi Arabia’s Public Investment Fund (PIF) take controlling 80-per-cent stake and end Mike Ashley’s controversial 14-year ownership of the club. The new owners are expected to invest heavily on the club. Numerous managers and players are already getting linked with a move to Newcastle. These are some exciting times for the Newcastle fans.
The Premier League confirmed the takeover in a statement on Thursday, saying it had received “legally binding assurances” that the Kingdom of Saudi Arabia will not control Newcastle United. The investment group is led by the Public Investment Fund (PIF) and also comprises of PCP Capital Partners and RB Sports & Media. Newcastle’s new owners are expected to replace Steve Bruce as head coach, but no decision has yet been made on when this might happen. “Newcastle United deserves to be top of the Premier League. We want to get there. It will take time, but we will get there,” says Staveley, the chief executive of PCP Capital Partners who is now a director on the Newcastle board.
All the Newcastle fc legends had a positive reaction to this news as the old owners were not investing positively in the club. After this takeover Newcastle united have become the richest club in the Premier League, according to Goal.com. These are exiting times to be a Newcastle fan, let us hope that this takeover will be beneficial for the Premier League and will improve the quality of football.
