Saudi majority takeover of Newcastle brings celebration and controversy in equal measure

The PIF has taken an 80 per cent stake in the club, with Staveley’s PCP Capital Partners and RB Sports & Media having handed over £305million in exchange for the keys

Newcastle fans celebrated news of the club’s Saudi takeover. Picture: Tom Wilkinson/PA

The end of the Mike Ashley era brought celebrations and controversy in equal measure as Newcastle’s new owners targeted trophies while human rights groups accused them of ‘sportswashing’ human rights abuses.

Thousands of fans who congregated outside St James’ Park will be drawing up fantasy wish-lists after Amanda Staveley, a driving force behind the takeover – vowed to transform the club into Champions League contenders.