Newcastle city centre descents into chaos following takeover news

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.

The PIF reportedly have a net worth of £320 billion, according to The Sun.

Chaotic scenes outside St James’ Park

A huge group of Magpies fans gathered outside St James’ Park following the news, with celebrations going on long into the night.

Plenty of fans have now dreaming of the players their newly mega-rich club can attract. Some have even suggested that Kylian Mbappe and Erling Haaland could be tempted to join.

And while that in all likelihood is outlandish, there is no doubt that Newcastle will now attempt to break down the door to Europe’s elite.

Chief Executive Officer of PCP Capital Partners, Amanda Staveley, said: “We intend to instill a united philosophy across the Club, establish a clear purpose, and help provide leadership that will allow Newcastle United to go on to big achievements over the long term.”

“Our ambition is aligned with the fans – to create a consistently successful team that’s regularly competing for major trophies and generates pride across the globe.”

It is worth noting, though, that not all Magpies fans are completely delighted with the takeover – highlighting concerns over Saudi Arabia’s human rights record.

Prior to the deal going through, The Athletic reported that Amnesty International had been urged by Amnesty International to examine the human rights records for new club owners.

On the pitch, Newcastle should go from strength to strength – and fans are daring to dream of European football gracing St James’ Park once again.

Featured Image Credit: Getty