NEWCASTLE IN JOYOUS MOOD OVER THE NEWS OF A NEW OWNER
The city of Newcastle is in a joyous mood following news of a new ownership
Newcastle city centre was the scene of huge celebrations last night after it was officially announced that a Saudi Arabian-led takeover of Newcastle United had been completed.
The Magpies’ official club website confirmed at around 5pm that an investment group led by Saudi Arabia’s Public Investment Fund (PIF), as well as RB Sports & Media and PCP Capital Partnership, had acquired shares in the club owned by Mike Ashley’s St. James Holdings Limited.
It was reported that the PIF now have a net worth of £320 billion and will be making vital decisions about the club going forward.
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