Newcastle takeover completed: Saudi-led consortium end Mike Ashley’s 14-year ownership
The £300m takeover of English Premier League Newcastle United has officially been completed, ending a controversial Mike Ashley’s 14-year ownership of the club.
The takeover was officially announced by the Premier League confirmed the takeover in a statement on Thursday, saying that:
“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.”
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