Newcastle United Fans Jubilant as Saudi-Backed Acquisition Confirmed

Newcastle United football fans celebrated the acquisition deal transferring ownership of the team from British retail magnate Mike Ashley to an investment group led by the Saudi Arabian Public Investment Fund (PIF) on Thursday, October 7.

Video shared to Twitter by Keith Fenwick shows fans outside the Newcastle upon Tyne arena celebrating the finalized deal, which transferred 100 percent of Newcastle United Limited and Newcastle United Football Club Limited from St James Holdings Limited, the team said.

The consortium, led by the PIF, also comprised of PCP Capital Partners and RB Sports and Media. Credit: Keith Fenwick via Storyful

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