Newcastle United are now worth £1billion according to a report in Bloomberg following the departure of Amanda Staveley from the boardroom.
The exit of the Ripon financier sees Saudi Arabia's Public Investment Fund increase its stake in United to 85%. Bloomberg reflected in their report: "The current valuation of Newcastle puts the team at roughly the same valuation as seven-time European winner AC Milan, which was sold by Elliott Management Corp. in 2022 to Redbird Capital Partners for $1.3 billion."
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Staveley left with the best wishes of Toon chairman Yasir Al-Rumayyan earlier this summer and said: "Amanda and Mehrdad will forever have our tremendous thanks and well-wishes as they move on to focus on their other business interests.
"We have achieved so much together since 2021, including achieving Champions League football in our first full season as stewards of this incredible club.
"The ownership group, together with CEO Darren Eales and the club's executive team, will continue to build on these foundations for long-term, sustainable success for the team and our amazing fans, and we are excited about the future prospects for Newcastle United."
Despite the new valuation, CEO Eales warned earlier this month: "The revenues have been rising and it’s incredible to see… but we’re still behind the big six so we know that if we’re going to be competing and punching above our weight, how we use our resources is really important."
Newcastle continue to be restricted by the PRS rule book but PIF have twice pumped in additional funds when injecting £60m last August and £57m 18 months ago. The Magpies are yet to spend outside the arranged £28million deal for Lewis Hall although the valuation of Odysseas Vlachodimos was deemed at £20m as part of the £35m deal for Elliot Anderson to Nottingham Forest.
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