Co-owners Amanda Staveley and Mehrdad Ghodoussi will leave Newcastle later this month, the club has revealed.
The Reuben family and PIF have purchased Staveley and spouse Mehrdad Ghoudoussi’s 6% stake in the club, since they are reported to be exploring other financial ventures.
Staveley and her spouse acquired a ten percent stake in the team in 2021 following their significant involvement in the Saudi Arabia Public Investment Fund’s (PIF) purchase of the Magpies.
It ends an almost three-year relationship with the team, as Staveley arranged the £305 million takeover from Mike Ashley in 2021.
Staveley and Ghodoussi are resigning from all club posts concurrently, and PIF now controls 85% of the North East giants.
Pete O’Rourke has revealed to the Football Insider why Staveley was allowed to leave the club.
“Amanda was obviously key to the takeover wasn’t she, she took the deal to the Saudis and put it all together,” O’Rourke told Football Insider.
“Now the club is under the ownership it is, they’re obviously very, very comfortable with where they are.
“Confident with the setup they’ve got off the field and they want to take full control and full ownership of their own football club, which is understandable.
“You can understand the links possibly to other clubs for them to go on and to get a takeover.
“But as far as Newcastle is concerned it’s almost like, ‘your jobs done here, we want to take full ownership of our club.’”
Staveley has helped the club to become a competitive force in English football.
She has supported manager Eddie Howe along with other members of the ownership in making them a club that regularly challenges for a place in European football.