Saudi Arabia investment group takeover struggling Newcastle fc from St. James Holdings Limited
Reports that Newcastle Football Club have been faced with financial difficulties but that is over as a new investment group, led by Public Investment Fund (PIF) are said to have taken over the club 100%. It was discovered by news247gh.com that an official announcement would be made to that effect hours ago
“An investment group led by the Public Investment Fund (PCP Capital Partners and RB Sports & Media comprising of Capital Partners, PCP and RB Sports & Media (the “Investment Group “), has completed the acquisition of 100% fo Newcastle Football Club Limited (“Newcastle United” or the “club”) from St. James Holdings Limited. An official statement from Newcastle stated.
The statement also detailed the Clubs new Board Members. “His Excellency Yasir Al-Rumayyan, Governor of PIF 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. The statement added
Governor of PIF revealed the investment group is very proud to be the owners of one of English famous football clubs.
“We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football. We thank Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them” His Excellency Yasir Al-Rumayyan said