Newcastle’s new owners make trophies declaration after £305m takeover completed

Newcastle’s new owners have sent a message to fans declaring they will “instill a united philosophy” and bring silverware back to James’ Park.

A Saudi-led conglomerate purchased the Magpies for £305million on Thursday, ending Mike Ashley’s deeply-unpopular 14 years in charge at St James’ Park.

Saudi Arabia’s Public Investment Fund (PIF) will own 80 per cent of the club, while PCP Capital Partners CEO Amanda Staveley and the Reuben Brothers will each have a 10 per cent stake.

PIF governor Yasir Al-Rumayyan spoke of his pride upon the takeover’s announcement, while Staveley – who brokered the deal – reassured supporters their club’s new owners have big plans on Tyneside.

“We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football,” said Al-Rumayyan.

“We thank the Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them.”

Staveley added: “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.”

Jamie Reuben, the son of billionaire property development David Reuben, paid tribute to Newcastle supporters on Twitter, writing: “Deal DONE!

“Thank you, thank you to all of the Newcastle United fans – this truly would not have happened without you. Big job on our hands but onwards and upwards we march. Howay The Lads!”

In a statement, Jamie Reuben, of RB Sports & Media, added: “We look forward to a great future for Newcastle United.

“Newcastle is a fantastic city, which is why our family has been investing heavily in the area for many years. To become part of this great Club and its amazing fans is a privilege.

“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.”

Newcastle’s new owners arrive at St James’ to find the club 19th in the Premier League.

Their takeover is expected to spell the end of Steve Bruce’s time as manager, while it could prompt up to £250million of investment in the squad.

Newcastle have not won a major honour since they lifted the Inter-Cities Fairs Cup, the precursor to the UEFA Cup and Europa League, in 1969.



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