Newcastle United announce departure of two co-owners

Premier League club Newcastle United announced on Friday (12.Jul.2024) the departure of co-owners Amanda Staveley and Mehrdad Ghodoussi. The decision marks the end of an era that began with the acquisition of the club by PIF (Public Investment Fund of Saudi Arabia) and RB Sports & Media in 2021.

Staveley and Ghodoussi, who played central roles in the takeover, each owned 10% of the club, a stake now increased by PIF and RB Sports & Media.

Under the leadership of Staveley and Ghodoussi, Newcastle United have staged a turnaround, rising from relegation battle to finish 4th in the Premier League in the 2022-23 season, securing their first Champions League appearance since 2003.

The club also reached the League Cup final, where they were beaten by Manchester United. The era was characterised by substantial investment, both in players and improvements to training facilities, and the implementation of significant corporate restructuring.

The departure of Staveley and Ghodoussi comes at a time of transition for Newcastle, with Staveley’s stake diluted to 6% and the Reuben family’s shares increasing, according to updates from Companies House.

Newcastle Chairman Yasir Al-Rumayyan expressed gratitude for the duo’s contribution, emphasising the club’s vision of long-term sustainable success.