It’s confirmed… in black and white! Mike Ashley’s 14-year Newcastle reign is officially over as the termination of his tenure is confirmed at Companies House after £305m Saudi takeover last month
- Mike Ashley’s time at Newcastle owner is officially up following £305m takeover
- The much-maligned chief purchased the club back in the summer of 2007
- He eventually sole the Premier League side last month to Saudi-led consortium
- Termination of his 14-year reign made official on Companies House on Thursday
Mike Ashley’s time at Newcastle owner is officially up with the termination of his reign made official at Companies House.
The much-maligned chief purchased the club back in the summer of 2007 and eventually sold the Premier League side last month.
The Magpies are under new Saudi ownership after a £305million deal was agreed with Ashley and signed off by the Premier League on October 7.
And now the end of Ashley’s 14-year tenure has been made official by the ‘cessation of St James Holding Limited as a person with significant control’ at Companies House on Thursday.
The takeover was stopped in its tracks by a piracy dispute between the Gulf state and its Premier League broadcast partner beIN Sports, but that was eventually settled, paving the way for the takeover to be completed.
Mike Ashley’s (left) time at Newcastle owner is officially up following the £305million takeover
The termination of his 14-year reign at St James’ Park was made official at Companies House
The deal was initially abandoned in the summer of 2020 when the group were unable to provide separation between themselves and the Saudi state, headed by Crown Prince Mohammed bin Salman.
They were able to provide sufficient proof that the Saudi state will not be in control of the club, and they have passed the Premier League owners’ and directors’ test.
The news delighted Newcastle fans, who flooded social media to celebrate when it was first revealed that the takeover was back on track.
Ashley’s neglect of Newcastle saw them nosedive and his relationship with the club’s supporters turned sour, after much protest over the Sports Direct billionaire’s time heading the club.
Newcastle fans now have the richest owners in world football with their £320billion fortune more than 10 times higher than Manchester City.
The Magpies are under new Saudi ownership after a £305million deal was agreed last month – new directors Mehrdad Ghodoussi (second right) and Amanda Staveley (right) in the stands
Newcastle fans celebrating at St James’ Park following announcement of takeover last month