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Newcastle Confirms The Exits Of Shareholders Staveley And Ghodoussi
Newcastle confirmed the departures of minority shareholders Amanda Staveley and Mehrdad Ghodoussi on Friday.
Staveley was instrumental in brokering the deal that allowed Saudi Arabia’s Public Investment Fund (PIF) to buy 80 percent of Newcastle in October 2021.
Along with her husband Ghodoussi, Staveley initially held a 10 percent stake in Newcastle. Staveley and Ghodoussi played key roles in managing Newcastle following the Saudi-backed acquisition. They were instrumental in the hiring of Eddie Howe as the team’s manager in November 2021.
Newcastle finished fourth in the Premier League in 2022-23 to qualify for the Champions League and also reached the League Cup final. They had a challenging season, exiting the Champions League in the group stage and up in a disappointing seventh place in the Premier League.
Staveley and Ghodoussi saw their ownership stake reduced to six percent following recent equity offerings, in which they chose not to partake. “PIF and RB Sports and Media will increase their shareholdings in Newcastle United, as part of the long-term plan to develop the club and make it a consistently credible competitor in domestic and European competitions,” a Newcastle statement said.
“As part of this structural change, PIF and RB Sports and Media will together acquire PCP Capital Partners’ shareholding in the club and Amanda Staveley will step down from all her positions with Newcastle United.”
The £300 million Saudi acquisition of Newcastle from former owner Mike Ashley attracted significant interest, primarily due to concerns surrounding the Gulf state’s human rights track record.
Staveley played a pivotal role in facilitating the deal, which had faced delays before ultimately being finalized when the Premier League was provided with assurances that there would be no Saudi participation.
Newcastle’s new shareholding structure will see PIF control around 85 percent, and RB Sports and Media hold the remaining 15 percent.
