Newcastle United fans. The Premier League has released a statement confirming the takeover of Newcastle United football club led by a group of Saudi-led funds. Effective immediately upon completion of the audit process,

Public Investment Fund (PIF), PCP Capital Partners and RB Sports. And Media have entered Officially acquired Newcastle United Limited and Newcastle United Football Club Limited from the old capital St. James Holding Ltd.

As a result of the acquisition, PIF’s Yasir al-Rumayan was named the club’s new chairman. While PCP’s managing director Amanda Staveley will have the seat. On the Salika Dong army board and Jamie Reuben, a representative from RB Sports and Media, sits as the club’s director.

“We are proud as well that the new owners club Newcastle United. One of the famous football team of England” Al – True My Craft said

, “We thank the fans of Newcastle. For the loyal support of the team over the years And we’re excited to start working with them.”

This takeover means Salikadong will immediately become the richest club in the world as PIF is worth $400 billion. And it intends to raise its assets to $1 trillion by 2025.

The Daily Mail report also analyzes that Newcastle United can now spend £200 million over the next three years without breaking the rules. Financial fair play. The reason for that is because former owner Mike Ashley has managed the club with strong financial strength over time.

After the takeover is confirmed, tens of thousands of The Magpies fans came out to celebrate in front of their hometown of St James’ Park. Welcoming the new era of the team after not winning a major championship in over 50 years.