Under new ownership, Newcastle United Football Club has Saudi Arabia's Public Investment Fund (PIF) with an 85% controlling share and the Reuben family, via RB Sports & Media, owns the remaining 15% (via The New York Times). After Mike Ashley's 14-year tenure came to an end in 2021, this ownership structure was completed in July 2024, ushering in a new chapter for the club.
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One of the biggest sovereign wealth funds in the world, the PIF gives Newcastle United great financial power; meanwhile, the Reuben family—Jamie Reuben on the board—adds corporate knowledge. Taken together, they hope to make the club a regular challenger in both domestic and European contests.
Important players in the 2021 takeover, Amanda Staveley and Mehrdad Ghodouski have resigned from their roles in line with the restructure. Originally holding a 10% share, Staveley has now left the ownership group allowing PIF and RB Sports & Media to gain complete control.
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Emphasising strategic expenditures in player recruitment, stadium improvements, and commercial partnerships, the new ownership group has already started carrying out their agenda. To much the satisfaction of the fervent Newcastle supporters, their aim is to create a sustainable and competitive future for the club.
Former owner Mike Ashley, a British retail billionaire, sold the club in 2021 following years of fan discontent at a lack of vision. Newcastle battled to compete at the highest levels under his ownership, but the new government has given supporters optimism once more.