Newcastle United has changed hands several times throughout its history, but the most significant ownership change came in October 2021. The club is currently owned by a consortium led by Saudi Arabia’s Public Investment Fund (PIF), which controls approximately 85% of the club. Meanwhile, RB Sports & Media holds the remaining 15% stake. This takeover marked a major turning point for the Tyneside club, bringing an end to Mike Ashley’s controversial 14-year reign.
The Saudi PIF is considered one of the wealthiest sovereign wealth funds in the world, giving Newcastle United substantial financial backing compared to many Premier League rivals. The ownership group includes prominent figures such as Yasir Al-Rumayyan, who serves as the club’s chairman, while the Reuben brothers (through RB Sports & Media) maintain a 14% share. Amanda Staveley, who played a crucial role in facilitating the takeover, has since exited her minority stake in the club.
Key Takeaways
- Newcastle United is majority-owned by Saudi Arabia’s Public Investment Fund with approximately 85% control since October 2021.
- The ownership consortium includes PIF chairman Yasir Al-Rumayyan and the Reuben brothers’ RB Sports & Media with a 15% stake.
- The Saudi-led takeover ended Mike Ashley’s 14-year ownership and positioned Newcastle among the financially strongest clubs in English football.
Ownership History
Newcastle United has changed hands several times throughout its history, with each ownership period bringing different fortunes to the club. The ownership transitions have significantly impacted the club’s direction, financial stability, and relationship with fans.
Pre-Takeover Era
Before Mike Ashley’s arrival, Newcastle United was owned by the Hall family and Freddy Shepherd. Sir John Hall became the club’s majority shareholder in 1991, leading the team during its exciting “Entertainers” era of the 1990s under manager Kevin Keegan.
This period saw Newcastle nearly win the Premier League title and brought stars like Alan Shearer to St James’ Park. The atmosphere at the stadium was electric during this time, with fans enjoying attacking football and European competitions.
Freddy Shepherd later took over as chairman, continuing to invest in the team but also drawing criticism for some controversial comments and decisions. The club remained competitive but struggled with mounting debts despite having one of the largest stadiums and fan bases in England.
Mike Ashley’s Tenure
Sports Direct owner Mike Ashley purchased Newcastle United in 2007 and his 14-year ownership became one of the most controversial periods in the club’s history. Initially welcomed by fans, Ashley’s relationship with supporters quickly soured.
During his tenure, St James’ Park was temporarily renamed “Sports Direct Arena,” angering the loyal fan base. The club experienced two relegations from the Premier League under his watch, though they did manage to return to the top flight each time.
Ashley was often criticized for a perceived lack of investment in the playing squad and infrastructure. Many fans organized protests and boycotts, demanding his departure from the club.
In 2021, Ashley finally sold Newcastle United to a consortium led by the Public Investment Fund of Saudi Arabia, ending his tumultuous relationship with the club and beginning a new chapter in Newcastle’s history.
The Takeover Process
Newcastle United’s ownership change in 2021 marked one of the most significant and complex takeovers in Premier League history. The process involved multiple parties, regulatory hurdles, and intense scrutiny due to the controversial nature of the Saudi-backed consortium.
Initial Stages
The journey toward new ownership began when Mike Ashley, who had owned Newcastle since 2007, put the club up for sale. A Saudi-led consortium emerged as the primary buyer, consisting of the Public Investment Fund (PIF), PCP Capital Partners, and RB Sports & Media.
The initial bid faced numerous obstacles. The Saudi PIF would own 80% of the club, while PCP Capital Partners, led by Amanda Staveley, and the Reuben brothers’ RB Sports & Media would each take 10%.
Concerns about Saudi Arabia’s human rights record and potential state control of the club created significant barriers. The consortium initially withdrew their offer in 2020 when approval stalled.
Completion of the Sale
After addressing regulatory concerns, the deal finally moved forward. On October 7, 2021, the £300 million takeover was officially completed, ending Mike Ashley’s 14-year ownership of the club.
The investment group acquired 100% of Newcastle United Limited and Newcastle United Football Club Limited. This made Newcastle one of the wealthiest clubs in world football overnight.
Yasir Al-Rumayyan, the governor of PIF, was appointed as the non-executive chairman of Newcastle United. Meanwhile, Amanda Staveley and Jamie Reuben joined the board as directors, bringing their business expertise to the club’s leadership.
Owners’ and Directors’ Test
The Premier League’s Owners’ and Directors’ Test presented the biggest hurdle for the takeover. This test examines whether potential owners meet the criteria to run a club responsibly.
The main sticking point was proving separation between the Saudi PIF and the Saudi government. The Premier League needed assurances that the Saudi state would not directly control the club, which would violate their regulations.
After months of negotiations, the consortium provided legally binding assurances that:
- The Kingdom of Saudi Arabia would not control Newcastle United
- PIF was a separate entity from the Saudi government
- All decisions would be made independently by the club’s directors
These guarantees finally satisfied the Premier League’s requirements, allowing the historic takeover to proceed.
Current Ownership Structure
Newcastle United has undergone significant ownership changes since October 2021, creating a unique structure involving Saudi Arabian and British investors. The club’s ownership is now primarily divided between the Public Investment Fund and the Reuben Brothers.
Public Investment Fund (PIF)
The Public Investment Fund (PIF) is Saudi Arabia’s sovereign wealth fund and the dominant force in Newcastle United’s ownership structure. Following a recent agreement to change the ownership structure, PIF now controls approximately 85% of the club.
PIF is one of the world’s largest sovereign wealth funds with assets worth hundreds of billions of dollars. It’s chaired by Saudi Crown Prince Mohammed bin Salman, giving the fund substantial financial resources.
The fund acquired Newcastle United in October 2021 as part of a consortium that purchased the club from previous owner Mike Ashley for approximately £305 million. This takeover marked the end of Ashley’s 14-year ownership of the club.
PIF’s involvement has transformed Newcastle’s financial capabilities, allowing the club to make significant investments in players and infrastructure.
PCP Capital Partners
PCP Capital Partners, led by British businesswoman Amanda Staveley, played a crucial role in brokering the 2021 takeover of Newcastle United.
Staveley serves on Newcastle United’s board of directors and has been a visible public face of the ownership group since the acquisition. Her firm was instrumental in negotiating the complex deal that brought PIF’s investment to the club.
PCP initially held a minority stake in the club following the takeover. However, the recent restructuring of ownership has shifted the balance of power.
Staveley continues to be involved in strategic decision-making at the club despite the ownership percentage changes.
Reuben Brothers
The Reuben Brothers, led by British billionaires David and Simon Reuben, represent the remaining significant ownership stake in Newcastle United.
Following the recent ownership restructure, the Reuben Brothers now hold approximately 15% of the club. This represents an increased stake compared to their initial position when the consortium first acquired Newcastle United in 2021.
The family has strong ties to the Newcastle area through various property developments and investments in the region. Their son, Jamie Reuben, sits on the club’s board of directors.
Their involvement brings additional financial strength and local business connections to complement PIF’s global resources and investment capabilities.
Influence and Decisions
The ownership structure of Newcastle United has created a unique power dynamic that shapes both daily operations and long-term planning. Decision-making flows through multiple channels with the Saudi-backed consortium having significant influence.
Board Composition
The Newcastle United board reflects its ownership structure with representatives from all investment partners. The Public Investment Fund (PIF) owns 80 percent of the club, while the remaining 20 percent is split between the Reuben family and PCP Capital Partners.
Amanda Staveley and her husband have played crucial roles in day-to-day operations, especially in the early stages after the takeover. They were delegated control by the Saudi majority owners as part of the transition plan.
Crown Prince Mohammed bin Salman chairs the PIF and holds significant influence, though the degree of his direct involvement in club decisions remains a topic of debate. The board structure allows for input from all ownership partners while maintaining Saudi majority control.
Strategic Direction
Newcastle’s strategic direction changed dramatically following the 2021 takeover. The club’s financial capabilities expanded enormously with backing from the Saudi sovereign wealth fund, creating new possibilities for growth.
Investment priorities have focused on strengthening the playing squad, upgrading training facilities, and modernizing club infrastructure. The ownership group has emphasized sustainable growth rather than immediate spending sprees.
Long-term goals include establishing Newcastle as a regular competitor in European competitions and building a global brand. This strategy mimics other clubs with wealthy international ownership.
The consortium has maintained some connection to Newcastle’s traditions while implementing new business approaches. This balance aims to satisfy both longtime supporters and attract new global fans.
Investments and Wealth
The ownership of Newcastle United involves immense financial resources, particularly from the Public Investment Fund (PIF) of Saudi Arabia. The wealth behind the club has significant implications for both Newcastle’s sporting ambitions and the regional economy.
Financial Power
The Public Investment Fund holds an 80% stake in Newcastle United, making it the majority owner. PIF is Saudi Arabia’s sovereign wealth fund with incredible financial resources.
How wealthy is PIF? The fund controls assets worth approximately £320 billion, making Newcastle’s owners the richest in the Premier League by a significant margin. This dwarfs the financial backing of other clubs in the competition.
The remaining ownership is divided between RB Sports & Media (owned by the Reuben brothers) with a 14% share, and Amanda Staveley’s PCP Capital Partners holding 6%. These partners contributed to the 2021 takeover that ended Mike Ashley’s 14-year ownership of the club.
PIF’s chairman is Mohammed bin Salman, the Crown Prince of Saudi Arabia, though there have been ongoing discussions about the separation between PIF and the Saudi state.
Economic Impact
The Saudi-led investment has transformed Newcastle’s financial capabilities and ambitions. The club can now compete for high-profile players and managers previously out of reach.
Beyond the pitch, this investment has boosted the local economy in Newcastle and surrounding areas. New jobs have been created both directly and indirectly through increased tourism and business activity on match days.
The ownership has pledged to invest in infrastructure, including potential stadium improvements and training facilities. These developments promise long-term benefits for the community.
There’s also growing international interest in Newcastle as a city. The connection to Saudi Arabia has opened doors to new business relationships and increased the global profile of both the club and region.
However, the economic benefits come alongside ongoing debates about sportswashing and the Kingdom of Saudi Arabia’s human rights record.
Comparison with Other Clubs
Newcastle United’s ownership structure stands out among Premier League clubs, particularly when considering financial strength and governance models. The Saudi PIF’s involvement makes Newcastle part of an elite group of clubs with state-backed investment.
Manchester City’s Ownership
Manchester City represents the closest comparison to Newcastle United’s ownership model in the Premier League. Sheikh Mansour bin Zayed Al Nahyan, a member of the Abu Dhabi royal family, acquired Manchester City in 2008. This takeover transformed City from mid-table contenders into a dominant force.
Both clubs share similarities in having wealthy Middle Eastern ownership, though from different countries. Sheikh Mansour’s City Football Group has expanded globally, creating a multi-club model that Newcastle might eventually follow.
City’s trajectory offers a potential blueprint for Newcastle’s development under PIF. The transformation didn’t happen overnight for City, but their consistent investment created a sustainable powerhouse.
Premier League Owner Profiles
The Premier League features diverse ownership models, with Newcastle’s Saudi PIF now standing as the wealthiest among all Premier League owners. This financial advantage creates significant potential for long-term growth.
Newcastle’s ownership structure divides as:
- Saudi PIF: 80% stake
- RB Sports & Media (Reuben brothers): 14% stake
- Amanda Staveley’s PCP: 6% stake
This contrasts with other ownership models like Arsenal’s Kroenke family, Liverpool’s Fenway Sports Group, or Chelsea’s Todd Boehly-led consortium. Unlike Mike Ashley’s previous single-entity ownership, Newcastle now benefits from diversified leadership and immense financial resources.
The Premier League’s financial regulations still limit how quickly this wealth can translate to on-field success, but the foundation for sustained competitiveness has been established.
Fan Engagement and Response
The takeover of Newcastle United by the Saudi PIF-led consortium created waves among supporters, with reactions ranging from excitement to concern. Fan opinions and community impact have both been significant factors in the club’s transition to new ownership.
Fan Opinions
Newcastle United supporters showed mixed reactions to the 2021 club takeover. Many fans welcomed the £300 million investment with hope for a brighter future after years of perceived underinvestment. The change brought renewed optimism to St James’ Park, with attendance numbers reflecting this enthusiasm.
Some fans had ethical concerns about the Saudi connection, creating interesting dynamics within the supporter base. Research shows fans adopted various psychological responses to the ownership change, including forms of social creativity and competition.
The club has recognized the importance of listening to fans. They recently launched their Fan Engagement Plan for 2024-25 as part of the Premier League’s Fan Engagement Standard.
Community Impact
Newcastle United’s ownership change has significantly affected the wider Newcastle community. The club has strengthened its community ties through various initiatives and increased local investment.
The club now publishes an annual Fan Engagement Report reviewing their activities and community impact. This transparency helps maintain trust with local supporters who see the club as central to the city’s identity.
St James’ Park continues to be a community hub, with match days bringing significant economic benefits to local businesses. Restaurants, pubs, and shops around the stadium thrive on game days.
Some community groups previously called for more transparency and accountability in football governance. The Government’s Expert Working Group recommended greater fan engagement – something the new ownership has attempted to address.
Future Outlook and Expectations
Newcastle United faces exciting prospects under its Saudi ownership structure. The club’s direction hinges on strategic player investments and ambitious goals that could reshape its position in English and European football.
Investment in Players
Newcastle’s ownership has shown clear commitment to strengthening the squad. The Saudi Arabia’s Public Investment Fund (PIF) now controls around 85% of the club, with RB Sports & Media holding the remaining 15%. This financial backing gives Newcastle significant power in the transfer market.
The club has made a strong statement about player retention. They have no plans to sell key players this summer, regardless of Champions League qualification. This shows their commitment to building rather than cashing in on talent.
Future transfer windows will likely see Newcastle continue targeting established stars and promising youngsters. The manager will have substantial resources to shape the squad according to the long-term vision agreed with PIF.
Club Goals
Newcastle’s ownership has set ambitious targets following the Saudi Arabian-led takeover. The primary goals include:
- Regular Champions League qualification
- Competing for domestic trophies
- Establishing Newcastle as a European football powerhouse
- Building a global brand and commercial presence
The club’s infrastructure development remains a priority too. Improved training facilities and potential stadium expansion could help Newcastle match their on-field ambitions with world-class amenities.
Recent ownership structure changes have streamlined decision-making, potentially making the club more agile in pursuing opportunities. The manager’s stability will be crucial for implementing the long-term vision consistently.
Leadership and Key Figures
Newcastle United’s ownership structure includes several prominent figures who guide the club’s strategic direction. These key individuals each play vital roles in the club’s management and future aspirations.
Crown Prince’s Role
The Saudi Arabian Public Investment Fund (PIF) owns 80 percent of Newcastle United after acquiring the club in October 2021. This sovereign wealth fund is chaired by Crown Prince Mohammed bin Salman, though he doesn’t personally manage daily club operations.
The club’s chairman is Yasir O. Al-Rumayyan, who represents PIF’s interests. As the Governor of PIF, Al-Rumayyan serves as the main connection between the Saudi ownership and Newcastle United.
Under this leadership, Newcastle has shown ambitious plans to compete with the Premier League’s elite clubs. The Crown Prince’s vision is reportedly to transform Newcastle into a global football powerhouse through strategic investments.
Amanda Staveley’s Contributions
Amanda Staveley played a crucial role in facilitating the PIF takeover of Newcastle United. Her firm, PCP Capital Partners, holds a minority stake in the club as part of the ownership consortium.
Staveley serves on the Newcastle United board and has been a visible face of ownership since the acquisition. She helped navigate the complex Premier League approval process that eventually allowed the Saudi-led consortium to purchase the club.
Her business expertise and connections have proven valuable in the club’s transition period.
Staveley works closely with CEO Darren Eales and other board members to implement the club’s long-term strategy for growth.
Her hands-on approach has made her popular with many fans who appreciate her dedication to the club’s development.
