The takeover of Newcastle United by Saudi-Arabia led consortium has successfully been completed this year, know the net worth and name of the new owner
After talks failed last year due to concerns about Saudi human rights abuses and piracy, the takeover is finally completed.
Newcastle fans celebrated the takeover of their beloved club by a Saudi-Arabian consortium at St. James Park yesterday after a tedious legal fight involving concerns about human rights abuses and piracy-related activities in the kingdom.
Newcastle United Takeover And New Owner Name And Net Worth
The process of the takeover of the Magpies commenced in April last year and has now finally been concluded.
“The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF (Public Investment Fund), PCP Capital Partners and RB Sports and Media.”
“Following the completion of the Premier League’s Owners’ and Directors’ Test, the club has been sold to the consortium with immediate effect,” the club said in a statement.
The takeover includes Amanda Staveley, a businesswoman who along with others will work to usher in a new era for the club.
Newcastle Investment group’s chief members
- His Excellency Yasir Al-Rumayyan, Governor of Public Investment Fund will serve as Non-Executive Chairman of Newcastle United.
- Amanda Staveley, chief executive of PCP Capital Partners, will have one seat on the board.
- Jamie Reuben will also be a director of the Club, representing RB Sports and Media.
Net worth of investment group’s chief members
The PIF group, one of the world’s most impactful investors is backed by Crown Prince Mohammad Bin Salman, who has accepted to take the club off the former owner Mike Ashely’s hands.
Mohammad Bin Salman’s net worth is estimated at around 13 billion pounds, slightly behind Manchester City owner Sheikh Mansour who has a 17 billion pounds fortune.
Amanda Staveley net worth: 110 million pounds.
Jamie Reuben estimated net worth: The 34-year old British financier’s net worth is somewhere between $ 5 Million to $7 Million USD.