PIF-led investment group takes over Newcastle United Football Club

Logo of the Public Investment Fund

A Public Investment Fund (PIF)-led investment group has completed the takeover of 100% of Newcastle United Football Club.
 

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 on Oct. 7 October, the Kingdom’s sovereign wealth fund said in a statement received by Argaam.
 

Today’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, the PIF added.
 

His Excellency Yasir Al-Rumayyan, Governor of PIF, will serve as Non-Executive Chairman of Newcastle United.
 

Meanwhile, 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.
 

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.
 

Yasir Al-Rumayyan, Governor of PIF, 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.”
 

On the other hand, the investment group thanked Mike Ashley for his commitment to the sale process, and the Premier League for its contribution in the regulatory process, which has helped lead to completion of this deal.