Northumberland MP 'delighted for fans' after Newcastle United takeover completed
A Northumberland MP has expressed joy at news of the Newcastle United takeover deal being completed.
Berwick MP Anne-Marie Trevelyan was speaking after a £305m Saudi Arabian-backed takeover was confirmed, bringing Mike Ashley’s 14-year tenure to an end.
The MP was contacted by hundreds Newcastle fans from her constituency last year, concerned about the initial withdrawal of Public Investment Fund (PIF).
She wrote to the Premier League in August 2020 and again in July this year, to ensure fans’ concerns about the transparency of the process was taken into account.
Anne-Marie said: “I am delighted for NUFC fans who now have certainty about the future of their club. Having bumped into fans this morning and from my inbox - I know a sense of pride has been restored and they are optimistic for the future.
“Many fans in my own constituency contacted me during the course of these contractual negotiations, deeply concerned about the process and I raised those concerns with the Premier League on their behalf as their MP - to ensure there was faith in the process.”
Turning to the wider discussion of transparency in football governance, the MP said: “It isn't for politicians to get involved in the contractual details, but I wanted to ensure fans could have faith in the process.
"My colleague Tracey Crouch is conducting a wider review of the governance process because it is so important that fans can have faith in the custodians of our football clubs which are such important community assets.”
The club has been taken over by Saudi Arabia’s Public Investment Fund (PIF), financier Staveley and investors David and Simon Reuben.
PIF have taken an 80% stake in the club with financier Amanda Staveley (10%) and investors David and Simon Reuben (10%) after the Premier League finally approved the deal.
The move came after Saudi Arabia ended a ban on Qatari broadcaster beIN Sports, the rights-holder for the Middle East North Africa region.
Staveley, chief executive officer of PCP Capital Partners, said: “This is a long-term investment. We are excited about the future prospects for Newcastle United.
"Our ambition is aligned with the fans – to create a consistently successful team that’s regularly competing for major trophies and generates pride across the globe.”