The takeover sees Saudi Arabia's Public Investment Fund (PIF) take controlling 80-per-cent stake and end Mike Ashley's controversial 14-year ownership of the club; manager Steve Bruce is expected to be replaced; Newcastle are next in action against Spurs on Oct 17 - live on Sky Sports<br /><br />The £300m takeover of Newcastle United has officially been completed, with a Saudi-led consortium ending Mike Ashley's 14-year ownership of the club.<br /><br />The Premier League confirmed the takeover in a statement on Thursday, saying it had received "legally binding assurances" that the Kingdom of Saudi Arabia will not control Newcastle United.<br /><br />The investment group is led by the Public Investment Fund (PIF) and also comprises of PCP Capital Partners and RB Sports & Media.<br /><br />Newcastle's new owners are expected to replace Steve Bruce as head coach, but no decision has yet been made on when this might happen.<br /><br />The consortium does not want to make any knee-jerk decisions, but it is understood one of the priorities is deciding who will take over in the dugout at St James' Park moving forward.<br />Newcastle's next match is live on Sky Sports against Tottenham on October 17.<br /><br />#NewcastleUnited #SaudiArabia #Shorts<br /><br />Source: https://www.skysports.com/football/news/11678/12427983/newcastle-takeover-completed-saudi-led-consortium-end-mike-ashleys-14-year-ownership<br />
