Newcastle United has announced that it has agreed to make changes to its ownership structure, with both parties reaching an agreement on the changes.
PIF and RB Sports & Media will increase their stakes in the club, as part of a long-term plan to develop the club and ensure it remains consistently competitive in both domestic and European competitions.
As part of the restructuring, PIF and RB Sports & Media will jointly acquire the stake in the club held by PCP Capital Partners, and Amanda Staveley will step down from all roles at Newcastle United.
Following the changes, the new ownership structure will see PIF controlling approximately 85% of the shares, with RB Sports & Media holding the remaining 15% of the club. These structural changes are expected to be completed by July 2024.
PIF, RB Sports & Media, and the Newcastle United Board of Directors would like to express their sincere gratitude to Amanda Staveley and Mehrdad Ghodoussi for their key role in the acquisition of the club, and their dedication over the past two and a half years in establishing a framework for long-term success.
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