the timeline of PIF at Newcastle United from the 2021 takeover to the Carabao Cup triumph and beyond

the timeline of PIF at Newcastle United from the 2021 takeover to the Carabao Cup triumph and beyond In October 2021, Saudi Arabia’s Public Investment Fund (PIF) acquired Newcastle United, and ever since, the club has experienced an unpredictable trajectory.

 

 

 

For a minimum of 18 months, PIF was engaged in the process of acquiring Newcastle United, but they encountered numerous obstacles before ultimately reaching an agreement with Mike Ashley. Newcastle have undergone a complete transformation from relegation strugglers to trophy champions and Champions League competitors in the nearly four years that have passed.

 

 

 

The following timeline illustrates the most significant events that have transpired at Newcastle since the club’s proprietors became its owners. The decision was met with outrage and disbelief from supporters; however, 14 months later, there were festivities on the streets of the city.

 

 

 

 

The £305 million purchase of the club from Ashley was eventually finalised on October 7, 2021, after the Premier League approved the deal, citing “legally binding assurances” that the Saudi state would not control the club. As stipulated in the agreement, PIF held 80% of Newcastle United, with the remaining 20% being equally distributed between the Reuben Brothers and Amanda Staveley.

 

 

 

 

Steve Bruce was relieved of his obligations “by mutual consent” on October 20, and PIF quickly established their presence. The Magpies’ inaugural match of the PIF era was overseen by Bruce, who led his team to a 3-2 defeat to Tottenham Hotspur at St James’ Park. Three days later, he exited the premises. Newcastle United has issued a statement confirming that Steve Bruce has resigned as head coach by mutual consent.

 

 

 

 

“He departs the Magpies after more than two years in charge, having guided the club to 13th and 12th-place finishes in the Premier League and the quarter-final stage of both the Emirates FA Cup and Carabao Cup.” “Newcastle United would like to express its appreciation to Steve for his contributions and extend its best wishes for his future.”

 

 

 

 

Upon the announcement, Howe expressed his gratitude, stating, “It is a great honour to be appointed as the head coach of a club of Newcastle United’s stature and history.” My family and I are extremely pleased of this day. “This is an extraordinary opportunity; however, there is a significant amount of work that lies ahead of us. I am eager to begin collaborating with the players on the training ground.”

 

 

 

 

“I am grateful to the club’s owners for this opportunity and to the club’s supporters for the amazing reception they have already extended to me.” I am eager to commence our shared voyage. Newcastle’s decision to recruit Howe has been a wise one, as he has elevated the team to a level that has not been achieved since 2003. “January 2022: The inaugural transfer window”