Saudi PIF increases stake in Newcastle United as co-owner Amanda Staveley departs

NEWCASTLE: Saudi Arabia’s Public Investment Fund has increased its ownership stake in English Premier League football club Newcastle United from 80 to 85 percent.
The agreement, confirmed by the club on Friday, marks the departure of husband-and-wife co-owners Amanda Staveley and Mehrdad Ghodoussi. As part of the consortium that took over the club almost three years ago, Staveley’s company PCP Capital Partners initially held a 10 percent ownership stake, though this was reduced to 6 percent last year when co-owner RB Sports and Media increased its stake from 10 to 14 percent; it will now rise to 15 percent.
The deal is expected to be completed this month, with the PIF and RB saying it is part of their long-term plans to develop the club and ensure it can be a consistently credible competitor in domestic and European competitions.
The PIF, RB and the Newcastle United board thanked Staveley and Ghodoussi for the key role they played in the acquisition of the club from former owner Mike Ashley, and for their dedication to the development of a framework for long-term success over the past two-and-a-half years.
Newcastle’s chairperson, Yasir Al-Rumayyan, said: “Amanda and Mehrdad will forever have our tremendous thanks and well-wishes as they move on to focus on their other business interests. We have achieved so much together since 2021, including achieving Champions League football in our first full season as stewards of this incredible club.
“The ownership group, together with CEO Darren Eales and the club’s executive team, will continue to build on these foundations for long-term, sustainable success for the team and our amazing fans, and we are excited about the future prospects for Newcastle United.”
Staveley described Newcastle as a special, unique club and said being its co-owner has been an honor.
“Mehrdad and I have loved being part of this club and community and are extremely proud of the progress Newcastle United has made in recent years,” she added.
“Our ambition has always been aligned to the brilliant fans of this club: to create consistently successful teams that regularly compete for major trophies and generate pride across the globe.
“We are grateful to have played our part in setting up the club for even more future success. We will remain fans for life.”