Newcastle United’s Value Soars to £1 Billion After Staveley Sale
- Saudi Arabia’s Public Investment Fund has increased its stake
- PIF has invested a further £260 million since 2021 takeover
Newcastle United fans show their support during a match in Newcastle upon Tyne, England on May 11.
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Newcastle United is now valued at over £1 billion ($1.3 billion), after its Saudi owners increased its holding by buying former owner Amanda Staveley’s stake, according to people familiar with the situation.
Saudi Arabia’s Public Investment Fund bought an 80% stake in the Premier League team from British businessman Mike Ashley in October 2021, paying around £305 million. The other 20% was originally split between London-based property developers Reuben Brothers and Staveley and her husband Mehrdad Ghodoussi.