Newcastle United's £305 million takeover by a Saudi Arabian-backed consortium was completed in October 2021 after the Premier League approved the deal. The Public Investment Fund (PIF), fronted by financier Amanda Staveley, provided 80% of the funds for the acquisition. The sale passed the Premier League's owners' and directors' test after assurances that the Saudi state would not control the club.
The takeover ended Mike Ashley's 14-year ownership of the club. PIF's assets of £250 billion made Newcastle one of the richest clubs in world football. Fans headed to St James' Park for the first match under the new ownership against Tottenham Hotspur on October 17, 2021.
