- The Newcastle investors have sold their six per cent stake in the club
- Amanda Staveley and her husband will stand down from their roles at Newcastle
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Newcastle United have confirmed the immediate departure of co-owner Amanda Staveley, with Saudi Arabia’s Public Investment Fund increasing its stake in the club to 85 per cent.
Staveley and husband Mehrdad Ghoudoussi are said to be pursuing other business interests, and their six per cent share of the club has been bought by PIF and the Reuben family. The Reubens’ stake has increased from 14 to 15 per cent.
Staveley and Ghodoussi will stand down from all club positions, and we understand another board appointment will be made in due course.
It brings to an end a near three-year association with the club, with Staveley having brokered the £305million takeover from Mike Ashley in 2021.
A club statement read: ‘Newcastle United Football Club today announces that an agreement has been reached to change its ownership structure.
‘PIF and RB Sports & Media will increase their shareholdings in Newcastle United, as part of the long- term plan to develop the club and make it a consistently credible competitor in domestic and European competitions.
‘As part of this structural change, PIF and RB Sports & Media will together acquire PCP Capital Partners’ shareholding in the club and Amanda Staveley will step down from all her positions with Newcastle United.
‘Following this, the new shareholding structure will see PIF control around 85% and RB Sports & Media holding the remaining 15% stake in the club. These structural changes are expected to be completed during July 2024.
‘PIF, RB Sports & Media and the board of Newcastle United would like to thank Amanda Staveley and Mehrdad Ghodoussi for the key role that they played in the acquisition of the club and their dedication to developing the framework for long-term success over the past two and a half years.’
Newcastle chairman 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 said: ‘Newcastle United is such a special, unique club and being a co-owner of Newcastle United has been an honour.
‘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.
‘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.’