Newcastle United (11/10 to be relegated) have begun the dawn of a new era following the confirmation a Saudi-led consortium has completed the takeover of the Premier League outfit.

At 5:18pm on Thursday, the Premier League confirmed the news via twitter, that a dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media had been settled.

After 14 years under the tenure of retail entrepreneur Mike Ashley, the Magpies are now under new ownership.

Amanda Staveley, Chief Executive Officer of PCP Capital Partners, said the goal is to now bring long-term stability to the club and have Newcastle challenging for major trophies in the future.

“This is a long-term investment. We are excited about the future prospects for Newcastle United,” she told the official club website.

“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.”

There is now plenty of speculation regarding the future of manager Steve Bruce, after what has been a disappointing start to the season.

The Magpies, who are without a win in the league after the first seven outings of the season, are down in 19th place in the table and just two points above rock-bottom Norwich City.

Following the international break, Newcastle are back in Premier League action on October 17 when they play host to Tottenham Hotspur (Newcastle 11/4, draw 11/4, Tottenham 21/20 – Match Betting).

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