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Newcastle United are under new ownership – and life is set to be very different after Mike Ashley's departure.
The Saudi Arabia-funded Public Investment Fund now own 80 per cent of the Magpies, bringing with them extensive, unparalleled wealth.
The north-east based Reuben brothers will own a further 10 per cent, while another 10 per cent will go to British financier Amanda Staveley – someone who has never given up on trying to buy Newcastle.
Staveley, who has vast ties in the middle east, first tried to buy the Tyneside club in 2017.
And she has finally got her wish after the £300m Saudi deal was completed on Thursday evening.
Back in 2008, Staveley played a huge part in the investment of £7.3 billion in Barclays by the ruling families of Abu Dhabi and Qatar.
Staveley's firm, PCP Capital Partners, acted for the Abu Dhabi royal family, who invested £3.5 billion to control 16 per cent of the bank.
In recent years, she has turned her attentions to buying Newcastle – and speaking back in May she promised to keep trying despite numerous failed attempts.
"I am tenacious if nothing else," the financier told Sky Sports earlier this year.
"We believe this is very important for Newcastle and the fans and we're not going to give up. We don't ever give up."
Staveley and Ashley thought they had a deal 12 months ago, but talks collapsed while a verdict was awaited on the owners' and directors' test.
In the minutes after the takeover was announced today, the businessman spoke out.
"There is no club like Newcastle United and there are certainly no fans like Newcastle fans," she told the media.
"We at PCP feel privileged to become custodians of this great club. Led by PIF and including RB Sports and media we know only too well that the whole community wants a club of which it can be proud – on and off the pitch.
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"This announcement has been a long time coming and we appreciate the patience of the fans, the community, the players, the coaching staff and everyone connected with the club.
"We have followed the discussions in the Fans Forum and we appreciate so much the incredible support of the fans. Now we are focused on the future and we have faith in the long-term success of Newcastle United. We are long-term, patient investors and we're here for the long haul. We don't want to make promises we can't keep.
"It will take time to get to where we want to but we have big ambitions for the club. We're going to invest not just in players but in the club."
- Newcastle United FC
- Saudi Arabia
- Premier League
- Kim Kardashian
- Mike Ashley
- Steve Bruce
- Net Worth
- Royal Family
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