Reuben family comment after increasing their shareholding in Newcastle United | OneFootball

The Reuben family have seen their stake increase in Newcastle United.

This news conveyed in Friday night’s announcement (see below) from the club.

The Reuben family increasing their shareholding in NUFC from 14.3% to 15%, whilst the Saudi Arabia PIF have taken their majority stake from 80% to 85%.

This change/increase in the shareholdings is due to the departure of Amanda Staveley and Mehrdad Ghodoussi and selling of Amanda Staveley’s 5.7% stake in Newcastle United.

On behalf of the Reuben family, Jamie Reuben speaking about his business and personal relationships with Amanda Staveley and Mehrdad Ghodoussi, as well as the determination to now move on after their departure and ensure the football club fulfils its potential.

Jamie Reuben commenting via his Twitter/X account on the departure of Amanda Staveley and Mehrdad Ghodoussi, which sees the Reuben family stake in Newcastle United increase to 15%:

“Long before we were business partners Amanda Staveley and Mehrdad Ghodoussi were friends.

“Our success today is a testament to their tenacity, perseverance and unwavering dedication.

“They will undoubtedly be remembered as legends of this club and I wish them both well.

“The journey to transform Newcastle United into a major force that competes at the highest levels continues and I look forward continuing this work with Saudi Arabia PIF in the years to come.”

Newcastle United owners official announcement – 12 July 2024:

Newcastle United Football Club today announces that an agreement has been reached to change its ownership structure.

PIF and RB Sports & 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.

As part of this structural change, PIF and RB Sports & Media will together acquire PCP Capital Partners’ shareholding in the club and Amanda Staveley will step down from all her positions with Newcastle United.

Following this, the new shareholding structure will see PIF control around 85% and RB Sports & Media holding the remaining 15% stake in the club. These structural changes are expected to be completed during July 2024.

PIF, RB Sports & Media and the board of Newcastle United would like to thank Amanda Staveley and Mehrdad Ghodoussi for the key role that they played in the acquisition of the club and their dedication to developing the framework for long-term success over the past two and a half years.

Commenting on the announcement, 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.”

Mehradad Ghodoussi has his say after the club announcement on Friday:

“I just want to say a huge thank you to the fans and the city for embracing me and Amanda with such open arms.

“Your passion and support have made this journey truly unforgettable. You have played such an important part in our lives these last few years, and nothing will take those memories away.

“Newcastle will always have a special place in our hearts, and we will cherish our time there forever.

“I’d like to thank Eddie, the coaching staff, the players, and of course our Chairman, Yasir, and the PIF team, Jamie, and the rest of the Reuben family for being such great partners.

“Finally I’ve seen all your (fans’) messages, and I’m so grateful to each and every one of you.

“I will always be a supporter and a proud member of the Toon Army. I will love and remember you all forever, and I know the club will keep achieving great things with your amazing support.”

Amanda Staveley reaction to Friday’s news:

“Newcastle United is such a special, unique club and being a co-owner of Newcastle United has been an honour.

“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.

“Our ambition has always been aligned to the brilliant fans of this club – to create consistently successful teams that regularly compete for major trophies and generate pride across the globe.