New Beginning....

[White Lightning]

An amazing 24 hrs culminating in the following....

The Premier League Statement....

The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media.

Following the completion of the Premier League's Owners' and Directors' Test, the club has been sold to the consortium with immediate effect.

The legal disputes concerned which entities would own and/or have the ability to control the club following the takeover.

All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club’s ownership.

The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.

All parties are pleased to have concluded this process which gives certainty and clarity to Newcastle United Football Club and their fans.

Followed by the Club Statement....

An investment group led by the Public Investment Fund (PIF), and also comprising PCP Capital Partners and RB Sports & Media (the “Investment Group”), has completed the acquisition of 100% of Newcastle United Limited and Newcastle United Football Club Limited (“Newcastle United” or the “Club”) from St. James Holdings Limited.

All requisite approvals have been obtained from the English Premier League and the acquisition was completed on 7 October 2021.

The Investment Group is comprised of long-term, patient investors who have every confidence in the future success of the Club. Today’s announcement is the conclusion of a thorough and detailed process that has allowed the Investment Group to arrive at a deal that benefits all stakeholders and will leave Newcastle United well-placed to pursue a clear, long-term strategy.

His Excellency Yasir Al-Rumayyan, Governor of PIF, will serve as Non-Executive Chairman of Newcastle United. Amanda Staveley, chief executive of PCP Capital Partners, will have one seat on the board. Jamie Reuben will also be a director of the Club, representing RB Sports & Media.

For PIF, one of the world’s most impactful investors, the acquisition is in line with its strategy of focusing on key sectors including Sports and Entertainment, and aligns with PIF’s mission to actively invest over the long term – in this case, to harness the Club’s potential and build upon the Club’s legacy.

Commenting on the agreement, His Excellency Yasir Al-Rumayyan, Governor of PIF, said: "We are extremely proud to become the new owners of Newcastle United, one of the most famous clubs in English football.

"We thank the Newcastle fans for their tremendously loyal support over the years and we are excited to work together with them."

Amanda 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.

"We intend to instill a united philosophy across the Club, establish a clear purpose, and help provide leadership that will allow Newcastle United to go on to big achievements over the long term.

"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."

Jamie Reuben of RB Sports & Media, said: "We look forward to a great future for Newcastle United. Newcastle is a fantastic city, which is why our family has been investing heavily in the area for many years. To become part of this great Club and its amazing fans is a privilege.

"We will build a true community Club, based upon our family’s knowledge of the city and in line with our plans that have been worked on closely with Newcastle City Council to deliver long-term sustainable growth for the area."

The directors of the Investment Group thank Mike Ashley for his commitment to the sale process. We would also like to thank the Premier League for its contribution in the regulatory process, which has helped lead to completion of this deal.

"Cans!".....

Lights Oot!

[White Lightning]

The Steve Bruce Sob Story...

Steve Bruce sacked by Newcastle and reveals: 'It was hard being called an inept cabbage-head'

Manager lost his job today, a fortnight after the Saudi takeover and days after taking charge of his 1,000th match

By
Luke Edwards
20 October 2021 • 11:07am

Steve Bruce sacked by Newcastle United

Steve Bruce has been sacked by Newcastle United and has revealed that he is now likely to retire due to the strain that has been placed on him during his two-year spell on Tyneside.

Bruce's departure - which was confirmed this morning - has been widely expected ever since the Saudi Arabian-led takeover at St James' Park, although he was in charge for last Sunday's match against Tottenham, his 1,000th as a manager. Graeme Jones will take charge of the team on an interim basis, starting with Saturday's trip to Crystal Palace.

Bruce's previous 999 games included spells at Sheffield United, Huddersfield, Wigan Athletic, Crystal Palace, Birmingham City, Sunderland, Hull City, Aston Villa and Sheffield Wednesday, in addition to his time at Newcastle, the club he supported as a boy and started managing in 2019.

His tenure has been overshadowed by hostility from supporters who were always opposed to his appointment, and criticised his style of football, but he leaves having accomplished his mission of keeping the club in the top flight.

'I don't want to put my wife through this again'

In an exclusive interview with The Telegraph, Bruce revealed that a desire not to expose his family to more strain is behind his reluctance to pursue another managerial post.

“I think this might be my last job,” said Bruce. “It’s not just about me; it’s taken its toll on my whole family because they are all Geordies and I can’t ignore that.

“They have been worried about me… especially my wife Jan. What an amazing woman she is, incredible, she’s just a fantastic woman, wife and mother and grandmother. She dealt with the death of my parents, hers have not been very well. And then she had me to worry about and what I’ve been going through the last couple of years.

“I can’t take her for granted, she has spent her whole life following me around from football club to football club and if I was to say to her tomorrow, I’ve been offered a job in China, or anywhere, she would say, 'Steve, is this right for you, do you want to do it?' And she’d back me again.

“I’m 60 years old and I don’t know if I want to put her through it again. We’ve got a good life so, yeah, this will probably be me done as a manager - until I get a phone call from a chairman somewhere asking if I can give them a hand. Never say never, I’ve learnt that.”

That last sentence is followed by a laugh and a wry smile - or possibly a grimace. At the moment, Bruce feels like he is done. He has, like many others before him, been chewed up and spat out by Newcastle United.

Clubs Steve Bruce managed

Bruce started his management career at Sheffield United (top left) and progressed through another 10 clubs including Newcastle (bottom right)

'People called me a tactically inept cabbage-head'

“I really have to thank all the people who have worked alongside me, because I can be demanding and I can be hard work - especially when I was younger," Bruce admits. "When we get beat, I get very low, but when you are managing in the Premier League with Birmingham, Wigan, Hull, Sunderland you do get better at dealing with it. You have to.

“By the time I got to Newcastle, I thought I could handle everything thrown at me but it has been very, very tough. To never really be wanted, to feel that people wanted me to fail, to read people constantly saying I would fail, that I was useless, a fat waste of space, a stupid, tactically inept cabbage-head or whatever. And it was from day one.

“When we were doing ok results wise, it was ‘yeah but the style of football is rubbish’ or I was just ‘lucky.’ It was ridiculous and persistent, even when the results were good.

“The best one was to be told we were a relegation team in all but points…this was all in the first season. We finished 13th. It [the criticism and abuse] got even worse in the second year. We finished 12th, 17 points clear of the bottom three.

“I tried to enjoy it and, you know, I did. I’ve always enjoyed the fight, proving people wrong, but that’s all it ever seemed to be. A fight, a battle. It does take its toll because even when you win a game, you don’t feel like you are winning over the supporters."

'My only job was to keep the club up'

“I wanted so badly to make it work," Bruce added. "I was so proud to be manager of Newcastle United, even in the dark times, I was determined to keep going and to keep this club in the Premier League.

“The takeover rumours were rumbling on in the background but they would not have bought the club if it had been relegated. Everyone knew that.

“The only task I was given was to keep the club up. There wasn’t the money to overhaul the squad. Covid drained the club of money, there was virtually nothing to spend this summer, but I wouldn’t walk away from it.

“People told me to quit and if it hadn’t been Newcastle… I refused to give up. I just felt who could come in who was going to be better equipped to keep them up again than me?

"I’m really happy for the fans, the city, everyone associated with this great club.

“This takeover had to happen for the club to improve. It had to happen for Newcastle to have a chance to be the club we all think it should be.

“I did my best, I will leave it to other people to judge whether I did ok or not. I wish the new owners, the players, and fans nothing but the best. I’m excited about the club’s future. That is the most important thing.”

'I'm very grateful for my career'

Bruce needs a holiday and has earned one. Whether we see him in a dug-out again, only time will tell, but he has found it hard to walk away before.

“Why have I kept coming back?” he added. “It’s me. It’s who I am. Football has been my life. It’s what I do. Why does anyone have a career? This has been mine and I’m very grateful for that.

“Someone reminded me the other day of the two headers I scored against Sheffield Wednesday that helped Manchester United win the first Premier League title in 1992.

“To still be involved 40 years later, well, I’ve been very lucky. I must have done ok, as a player and a manager. It’s been a lifetime really.”

WL