Saudi Arabia's PIF increases Newcastle stake as Amanda Staveley steps down

Club's new shareholding structure will see PIF control about 85 per cent while RB Sports and Media hold the remaining 15 per cent

Newcastle United chairman Yasir Al-Rumayyan and director Amanda Staveley during a match in 2021. PA

Saudi Arabia's Public Investment Fund (PIF) has increased its stake in Newcastle United as the football club confirmed the departures of minority shareholders Amanda Staveley and Mehrdad Ghodoussi.

The club said the move was part of a long-term plan “to develop the club and make it a consistently credible competitor in domestic and European competitions”.

“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,” it said.

Newcastle's new shareholding structure will see PIF control about 85 per cent while RB Sports and Media hold the remaining 15 per cent.

Ms Staveley was instrumental in brokering the £300 million ($385 million) deal that allowed PIF to buy 80 per cent of Newcastle from former owner Mike Ashley in October 2021.

Along with her husband Mr Ghodoussi, Ms Staveley initially held a 10 per cent stake in Newcastle.

Amanda Staveley (centre) and Mehrdad Ghodoussi (right) in London. File

Ms Staveley and Mr Ghodoussi's shareholding was diluted to 6 per cent due to recent equity raisings which the pair have not participated in.

Both Ms Staveley and Mr Ghodoussi were heavily involved in running Newcastle after the takeover and oversaw the appointment of Eddie Howe as 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 fared less well last season, crashing out of the Champions League in the group stage and finishing a disappointing seventh in the Premier League.

In a departing statement, Ms Staveley said that her time at Newcastle has been “an honour”.

Newcastle player ratings 2023/24 season

NEWCASTLE 2023/24 SEASON RATINGS: A learning curve season for the manager, dealing with raised expectations, midweek Euro matches for the first time and a nightmare injury list. When the likes of Trippier and Burn were struggling, he should have pulled them out of the firing line but securing seventh place should be a source of pride. Getty Images

A huge loss when he dislocated his shoulder against Manchester United in December and did not return to the starting XI until the final game of the season. "He has single-handedly kept us in games this season," said teammate Callum Wilson after Pope's injury. Getty Images

Slovakian proved solid enough cover for Pope but he lacked the commanding presence and 'sweeper-keeper' skills of the man he replaced. Remains a decent shot-stopper, though, and was the penalty shoot-out hero against Blackburn in the FA Cup. Getty Images

A frustrating season for the usually ultra-reliable right-back. An impressive 10 assists meant he was joint-third best in the Premier League behind only Cole Palmer (11) and Ollie Watkins (13). But there were also dreadful defensive errors in league defeats at Everton and Manchester United, plus Chelsea in the League Cup. Getty Images

No more than a bit-part player, the Geordie defender produced two excellent performances in League Cup wins over Manchester City and Man United. Gave away a clumsy late penalty moments after coming off the bench that cost his team three points against Everton. Getty Images

A campaign to forget for the Dutch centre-half after suffering two torn ACL injuries in six months. Did not play until December after opting for rest rather than surgery, looked a shell of the player that shone last season on his return before breaking down again in March and will now have surgery, meaning six to nine months out. Getty Images

Had been Newcastle's only ever-present defender in an injury-ravaged campaign for the squad until a hamstring problem saw him miss the final few games. Excellent at the back, though, and contributed at the other end of the pitch with five goals, including a stunning finish in the 4-1 Champions League win over PSG. Getty Images

Club captain was given an unexpected extended run in the team due to Botman's injury woes. Solid enough from the experienced centre-back but a lack of pace often exposed him. Did score a memorable header in the 4-1 demolition of Chelsea. Ruptured his ACL in March and is out for six to nine months. Getty Images

A season to be written off by the former Aston Villa left-back who made only one Premier League start due to injuries and just seven appearances across all competitions. Getty Images

Versatile Swedish defender made a welcome return from the previous season's ruptured cruciate ligament. Ability to cover in several defensive positions was much-needed in such aninjury disrupted season for the team. Rewarded with a contract extension in February. PA

A baptism of fire for the teenage left-back. Looked physically out of his depth in the League Cup win over Man City, dropped out of the starting XI picture for a while as he struggled to cope with Howe's intense training requirements. Showed patience and ended the season in the team and playing well. AFP

Has the potential to become Newcastle's - and England's - right-back for years to come. Offers a real attacking threat surging forward, as shown by one 30-yard run before setting up a goal for Almiron in the League Cup win at Man United. Room to improve defensively but that will come under Howe's tutelage. Getty Images

A season of ups and downs for the Geordie defender. At left-back, his lack of pace was targeted by opponents with some success. Looked more comfortable in a central role. Scored in the unforgettable win over PSG and proudly wore the captain's armband in Trippier's and Lascalles' absence. Getty Images

Brazilian is an integral cog in the machine so his absence after undergoing surgery on a thigh injury was a huge blow. Driving force behind the 4-2 win over Brentford on the final day of the season - his first start since January 6 - and showed why Howe was delighted when the midfielder signed a new long-term deal in April. AFP

Italian midfielder was Newcastle's marquee summer signing and started the season with a man-of-the-match display in the opening day 5-1 thrashing of Aston Villa. But his world quickly fell apart when he was given a 10-month ban in October for breaking betting rules while at former club AC Milan. Getty Images

A sensational first full season on Tyneside which has seen the winger score 12 goals, provide 10 assists and produced consistent performances that should be enough to earn a spot in Gareth Southgate's England squad for Euro 2024. Getty Images

Has just completed his eighth season at the club but the 34-year-old is now restricted to late cameos off the bench. Scored in stoppage time with one of those appearances, though, to earn Newcastle a late point at home to his former club Bournemouth. Ritchie "drives standards in training", according to Howe. PA

Injury-hit first campaign for the summer signing who still contributed four goals in 21 appearances. Memorably scored after coming off the bench in his first game back after a long lay-off to earn his team a point in the extraordinary 4-4 draw with Luton in February. Ended the season on high with a goal against Brentford. Getty Images

Another huge loss due to injury that resulted in the midfielder making just five league starts. The high point of his season came in the League Cup win at Manchester United with a superb solo run and finish. Would have started the season dreaming of a first England cap, ended it just wanting to be fully fit again. Getty Images

The midfielder was an unlikely beneficiary of Newcastle's relentless injury list that resulted in the local boy making his debut aged 17. Would go on to make 26 appearances, provide his first assist and score his first goal before - inevitably - having his season ended due to a back injury. Getty Images

Geordie midfielder, 21, missed a large part of the campaign due to a stress fracture in his lower back. Has the potential to become a key player but needs an injury-free season and regular game time. But must add goals and assists to his game if that is to happen next season. Getty Images

Can frustrate with his final product as his passing and shooting can be wayward at times but his commitment to the cause can never be faulted. He is working hard on his finishing in training, according to manager Howe, and the midfielder contributed a career-best eight goals this season. PA

Brazilian playmaker remains absolutely vital to the cause, making more appearances than anyone else in the squad (48), scoring six goals and providing 10 assists. Remains to be seen what happens over the summer if a big offer comes in, with the 26-year-old's £100m release clause expiring at the end of June. PA

There was no repeat of last season's scoring streak but the Paraguayan still chipped in with five goals and three assists, including quality finishes against Burnley in the league and Manchester United in the League Cup. Linked with a move to Saudi Arabia in January and reports suggest he could be moving on this summer. Getty Images

Magnificent campaign for the Swedish striker who became the first Newcastle player since Alan Shearer in 2003-04 to reach the 25-goal mark across all competitions. His 21 league goals left him behind only Cole Palmer (22) and Erling Haaland (27) in the Golden Boot race. A big offer could come in for the 24-year-old before next season. Getty Images

A familiar story for the England striker - an impressive goals ratio of 10 goals in 25 appearances but a chunk of the season again lost to injuries. For the second time in four seasons, Wilson failed to play 20 league games. Despite this, Howe insists he wants the 32-year-old to remain at the club. Getty Images

“Mehrdad and I have loved being part of this club and community and are extremely proud of the progress Newcastle United has made in recent years,” she said.

“We are grateful to have played our part in setting up the club for even more future success. We will remain fans for life.”

Yasir Al-Rumayyan, chairman of Newcastle United, said: “Amanda and Mehrdad will forever have our tremendous thanks and well-wishes as they move on to focus on their other business interests.

“We have achieved so much together since 2021, including achieving Champions League football in our first full season as stewards of this incredible club.

“The ownership group, together with CEO Darren Eales and the club's executive team, will continue to build on these foundations for long-term, sustainable success for the team and our amazing fans, and we are excited about the future prospects for Newcastle United.”