Finally, Newcastle United have new owners.
Saudi Arabia s Public Investment Fund have completed a deal to buy an 80 per cent stake in the Premier League club, with Amanda Staveley s PCP Capital Partners and the Reuben brothers RB Sports Media splitting the rest between them.
The deal was approved by the Premier League on Thursday after legally binding assurances were received that Newcastle will not be controlled by Saudi Arabia, meaning the Mike Ashley era is over.
Staveley made clear the new owners intentions in a statement, saying: 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.
To do that, money will need to be invested in th…