Co-owners Amanda Staveley and Mehrdad Ghodoussi are set to leave Newcastle after a transformative three-year tenure. Their departure marks the end of a significant era for the Premier League side.
Staveley played a pivotal role in the landmark takeover of Newcastle United by the Saudi Public Investment Fund (PIF) in 2021.
The £300 million deal saw PIF acquire an 80% stake from former owner Mike Ashley, with Staveley and her husband Ghodoussi securing a 10% stake, and the Reuben family acquiring the remaining 10%.
From the outset, Staveley emerged as the public face of the new ownership group. Her involvement extended beyond boardroom decisions; she was a regular presence at St James’ Park and represented Newcastle at Premier League meetings.
At the time of the takeover, Newcastle were languishing in 19th place, and the club’s fans were disillusioned after years of stagnation under Ashley’s ownership.
One of the first major decisions under the new ownership was the sacking of manager Steve Bruce, who was replaced by Eddie Howe.
Under Howe’s leadership, and with substantial financial backing, Newcastle underwent a remarkable transformation. More than £400 million was invested in new players, revitalizing the squad and propelling the team up the league table.
In their first full season with Staveley actively involved in the club’s management, Newcastle finished fourth in the Premier League in the 2022/23 season.
There was a slight bit of controversy surrounding Newcastle’s Saudi public fund ownership, with Amnesty International concerned in the past.
This achievement secured Champions League football for the first time since 2003, a significant milestone that underscored the success of the new ownership’s ambitious vision for the club.
Recently, Staveley and Ghodoussi reduced their stake in Newcastle by selling some of their shares to the Reuben family.
This move indicated a shift in the ownership dynamics, and now, with their departure, the Reuben family and PIF will presumably play an even more significant role in the club’s future.
As they step away, Newcastle United is in a far stronger position than when they arrived, poised for continued success and growth under its ambitious owners.
Their departure leaves questions about the club’s future direction, but with a solid foundation laid and Champions League football on the horizon, Newcastle United appears well-prepared to continue its upward trajectory.
