The deal between the consortium from Saudi Arabia and Mike Ashley for the sale of Newcastle is now officially a fact. The two sides shook hands and the Magpies became the property of an investment fund chaired by Saudi Prince Mohammed bin Salman. The deal is worth 300 million pounds, and its implementation was confirmed by the Premier League, which guaranteed that Saudi Arabia will not exercise control over the club.
The investment group, which is the new owner of Newcastle, is led by the Public Investment Fund (PIF), and its first move is expected to be the replacement of coach Steve Bruce.
It has not yet been decided when Bruce will be replaced, as the consortium does not want to make any hesitant decisions, but it is clear that one of the priorities is to decide who will take over the coaching position of "St. James Park" in the future.
PIF Governor Yasser Al Rumayan will serve as chairman of Newcastle. The team's minority owners, Amanda Stavelli and Jamie Ruben, who own 20% of the Magpies, will be on the club's board of directors.
Regarding Al Rumayan, he said: "We are extremely proud to become the new owners of Newcastle United, which is one of the most famous clubs in English football. We thank the Newcastle fans for their extremely loyal support over the years and we are excited to work with them. ”