31 key moments that have defined Newcastle United’s PIF takeover
Newcastle United is now a very difficult club to the one taken over by Saudi Arabia’s Public Investment Fund in October 2021.
Newcastle have gone from Premier League relegation fodder to European challengers and Carabao Cup finalists in less than 18 months under new ownership. Around £250million has been invested in the playing squad since the takeover and The Magpies currently sit fifth in the Premier League table.
Eddie Howe’s side have recently lost the Carabao Cup final 2-0 to Manchester United. Despite not being able to end the club’s 54 year trophy drought, it was a first major final at Wembley Stadium in 24 years.
Mike Ashley sold Newcastle United to PIF, PCP Capital Partners and RB Sports & Media for £305million. And the club has been transformed since.
Here are 31 key moments since the takeover...
1. October 7 2021: Takeover complete
The day it all changed. After years of waiting, the £305million takeover of Newcastle United was finally complete and Mike Ashley’s 14 year tenure as owner was brought to an end. Saudi Arabia’s Public Investment Fund became majority owners with an 80-per-cent stake while PCP Capital Partners and RB Sports & Media split the remaining 20-per-cent equally.
2. October 17 2021: Wor Flags return with a bang
The first match following the takeover was against Tottenham Hotspur at St James’ Park. Although the match ended 3-2 in Spurs’ favour, the atmosphere generated by a pre-match Wor Flags display helped mark the start of a new dawn for the club. The lyrics of Jimmy Nail’s ‘Big River’ were fittingly displayed across the Gallowgate End. Since then, Wor Flags displays have become an essential part of the Newcastle matchday experience, going from strength to strength. Photo: Stu Forster
3. October 20 2021: Steve Bruce sacked
With Newcastle sitting in the relegation zone and without a win, the predictable call to relieve Steve Bruce of his duties was finally made. Photo: Stu Forster
4. November 8 2021: Eddie Howe is appointed Newcastle head coach
Given Newcastle’s perilous position in the Premier League, the new owner’s first major decision had to be the right one. Fortunately they got this one spot on with the appointment of Eddie Howe as the club’s new head coach. It was a move that would ultimately turn The Magpies’ season around as Howe was able to get the best out of several players while also transforming former flop Joelinton into a midfield powerhouse. Photo: Owen Humphreys