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 Thursday.
The Investment Group is comprised of long-term, patient investors who have every confidence in the future success of the Club.
Thursday’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.
PIF Governor Yasir Al-Rumayyan 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.
“We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football,” said Al-Rumayyan.
He thanked the Newcastle fans “for their tremendously loyal support over the years,” saying “we are excited to work together with them.”
Staveley 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.
“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.”
Reuben said he looked forward to a great future for Newcastle United.
“We will build a true community Club, based upon our family’s knowledge of the city and in line with our plans that have been worked on closely with Newcastle City Council to deliver long-term sustainable growth for the area," he added.
