Newcastle United has announced that it has agreed to change its ownership structure, with both parties having reached an agreement on the alteration of the ownership structure.
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 its consistent competitiveness in domestic and European competitions.
As part of the structural reforms, PIF and RB Sports & Media will jointly acquire PCP Capital Partners’ shares in the club, with Amanda Staveley stepping down from all her roles at Newcastle United.
Following this, the new shareholding structure will see PIF controlling approximately 85% of the shares, with RB Sports & Media holding the remaining 15% of the club’s shares. These adjustments are expected to be completed by July 2024.
PIF, RB Sports & Media, and the Newcastle United board extend their heartfelt thanks to Amanda Staveley and Mehrdad Ghodoussi for their critical role in the acquisition of the club and their dedication to laying the groundwork for long-term success over the past two and a half years.