The official Premier League statement declared: ‘The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.’
That was exactly five years ago today.
On 7 October 2021 it was officially confirmed that the Newcastle United takeover had gone through.
That confirmation sparked joyous scenes outside St James’ Park as thousands and thousands of Newcastle United fans gathered to celebrate the departure of Mike Ashley.
A miserable decade and a half whereby he had sucked all the benefits and all hope out of Newcastle United, having the club on course for a third relegation in 13 Premier League seasons that had kicked off under him.
A low key Police presence watched on as the Newcastle United fans partied into the night with not a hint of overstepping the mark with the authorities.
Hope had been allowed to return to St James’ Park and we all wondered what now follow in the years ahead…
Premier League Official Statement – Thursday 7 October 2021:
‘The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media.
Following the completion of the Premier League’s Owners’ and Directors’ Test, the club has been sold to the consortium with immediate effect.
The legal disputes concerned which entities would own and/or have the ability to control the club following the takeover.
All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club’s ownership.
The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.
All parties are pleased to have concluded this process which gives certainty and clarity to Newcastle United Football Club and their fans.’