2021 takeover of Newcastle United F.C.

by a consortium of the Saudi Public Investment Fund (PIF), PCP Capital Partners, and the Reuben Brothers was a takeover proceeding that commenced in April 2020 and was successfully concluded in October 2021.

[5] After interventions from then-Prime Minister of the United Kingdom, Boris Johnson,[6] and the governments of Saudi Arabia and Qatar,[7][8] the takeover process lasted for 18 months, and was completed in October 2021.

[13] On 14 April 2020, it emerged that a request to undertake the Premier League's Owners' and Directors' Test had been filed by a consortium consisting of PCP Capital Partners, Reuben Brothers and the Public Investment Fund of Saudi Arabia (PIF), as the final stage of their £300m bid to purchase ownership of Newcastle United from Mike Ashley.

[2] A final decision on the outcome of the test was to be delivered by the Premier League board, populated by Gary Hoffman (chairman), Richard Masters (chief executive) and Kevin Beeston (non-executive director).

[4][18] Consequently, in April 2020 Yousef Al-Obaidly – CEO of beIN – wrote to the Premier League and all of its member clubs demanding that the prospective takeover of Newcastle United be blocked.

[5] In June 2020 however, The Guardian reported that the fact the UK government had recently advised human rights groups that "there are grounds for cautious optimism regarding social reform and modernisation in the (Saudi) kingdom" was positive news for the takeover.

[27] When asked for an update at various intervals by members of the media and MPs, Richard Masters – Chief Executive of the Premier League – refused to give any comment or time-frame for the ongoing process.

[31] In addition, over eighty MPs[32] and the Independent Football Ombudsman (IFO)[6] wrote to Richard Masters demanding transparency on the process of Newcastle United's subjection to the Owners' and Directors' test.

[6] On 14 August 2020, Richard Masters issued his first public statement on Newcastle United's taking of the Premier League's Owners' and Directors' test, stating in a reply to MP Chi Onwurah that the Premier League had deemed there to be insufficient legal separation between the Public Investment Fund of Saudi Arabia (PIF) and the Saudi Arabian government, and so the government would become a shadow director if the takeover were approved.

[42] On 6 July 2021, Amanda Staveley spoke out to add further support to Newcastle United's request for the Premier League to agree to a public takeover arbitration hearing.

[43]On 16 July 2021, around 300 Newcastle United fans travelled to London to protest outside Downing Street and the Premier League's headquarters to demand a public takeover arbitration hearing.

In them, it was asserted that football authorities had "lost the trust and confidence" of fans, and it was recommended that a new independent regulator be created to oversee matters such as club takeovers.

[48][49][50] These findings were backed by Oliver Dowden MP (then Secretary of the DCMS), who added that "the Premier League had its fit and proper persons test (for the Newcastle United takeover) and they're going through that.

[56] On 7 October 2021, the takeover of Newcastle United was officially confirmed, with the Public Investment Fund taking a majority 80% stake in the club, whilst PCP Capital Partners and Reuben Brothers each took 10%.

[1] In a statement, the Premier League said that they had "now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club".

[57] Staveley stated Bruce was to remain for the new owners first game against Tottenham Hotspur, his 1000th match as a football manager;[58] however, he left the club by mutual consent the following week.

His departure was the final of Mike Ashley's hierarchy, with Staveley stating the club was undergoing a "formal process" to appoint a new figure to replace the role.

[68] On 16 November 2021, Gary Hoffman resigned from his role as Premier League chairman with effect from the end of January 2022, after Newcastle's rivals held him responsible for the takeover's completion.

It featured illustrations of a man dressed in traditional Arabian clothing, carrying a sword with dripping blood, next to Premier League chief executive Richard Masters.

On a picture of a clipboard under the headline 'Premier League Owners Test' were listed the words 'Terrorism, beheading, civil rights abuses, murder, censorship and persecution'.

The report also stated that the UK Department of International Trade had created a public relations offer to the Premier League in an apparent attempt to bolster the reputation of Saudi Arabia and that the PIF planned to make $30 billion of direct investment in the United Kingdom between 2018 and 2028, outside of the Newcastle takeover.