Saudi Arabia based firm completes takeover of EPL side Newcastle United

An investment group led by the Public Investment Fund (PIF) has completed the Acquisition of English Premier League side Newcastle United.

All requisite approvals have been obtained from the English Premier League and the takeover from St James Holding firms was completed on 7 October 2021.

Talking about the agreement, His Excellency Yasir Al-Rumayyan, Governor of the lead investment group said:

“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.” He stated

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He also raised how ambitious they are just as the fans to create a successful team that will not just be another team in the league but rather compete for titles.

“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.” He added

The Premier league board also released a media statement to confirm the deal that is reportedly worth £300 million.

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