An investment group led by the Public Investment Fund (PIF), and also comprising PCP Capital Partners and RB Sports & Media, has acquired 100% of Newcastle United Limited and Newcastle United Football Club Limited from St. James Holdings Limited. The PIF is said to be providing 80% of the funds for the £300 million acquisition.
The English Premier League approved the sale, and the purchase was finalised on 7 October 2021. The League released a statement on their website indicating that the deal’s disputes have been settled.
“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.
The PIF is said to be providing 80% of the funds for the £300 million acquisition
“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.
“The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.”
Yasir Al-Rumayyan, Governor of the Public Investment Fund, will serve as non-executive chairman of Newcastle United
Governor of the PIF, Yasir Al-Rumayyan, who will serve as Non-executive Chairman of Newcastle United, commented: “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.”
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.
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