Newcastle co-owners Amanda Staveley and Mehrdad Ghodoussi will leave the club after three years later this month as part of an ownership restructure, it has been announced
Newcastle have confirmed that co-owners Amanda Staveley and Mehrdad Ghodoussi will leave the club later this month.
Staveley and her husband took a 10 per cent share in the club back in 2021 after playing a major role in the Saudi Arabia Public Investment Fund’s (PIF) acquisition of the Magpies.
PIF purchased 80 per cent of the club for £305million while Staveley, along with Ghodoussi, and the Reubens each bought a 10 per cent stake.
It had been reported earlier this week that Staveley and Ghodoussi had sold their stake in the club and their impending exit was confirmed in a statement on Friday night. The 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.”
Staveley commented on the development in the statement, saying: “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.”
Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don’t like our community, you can check out any time you like. If you’re curious, you can read our Privacy Notice.
Official EURO 2024 Spain v England Final Programme
The official programme includes interviews with EURO-winning stars, a delve into finals of the past, plus a focus on the two finalists. Order your copy now!