Newcastle director pays tribute as £726bn powerhouse PIF ups the ante and makes new trophy pledge

Newcastle United director Jamie Reuben has paid tribute to Amanda Staveley after the Ripon financier announced she would be stepping down from the Toon board.

Reuben remains with the Magpies and his family now have a 15 per cent stake in the club alongside majority shareholders PIF at St James’ Park. A new structure was announced on Friday night but Reuben made his feelings about Staveley and her husband Mehrdad Ghodoussi clear.

After the board reshuffle was revealed to the Tyneside public following a week of silence, Reuben took to X to offer his thoughts. The former Queens Park Rangers director said: “Long before we were business partners, Amanda and Mehrdad were friends. Our success today is a testament to their tenacity, perseverance and unwavering dedication.

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“They will undoubtedly be remembered as legends of this club and I wish them both all the best.”

However, while there was sadness among fans at the popular Newcastle couple’s departure, the page on a new chapter had been turned at St James’.

Reuben added: “The journey to transform Newcastle United into a major force competing at the highest levels continues and I look forward to continuing this work with the PIF in the years ahead.”

Newcastle explained the boardroom changes to fans on Friday night. The club said: “PIF and RB Sports & Media will increase their shareholdings in Newcastle United, as part of the long-term plan to develop the club and make it a consistently credible competitor in domestic and European competitions.

“As part of this structural change, PIF and RB Sports & Media will jointly acquire PCP Capital Partners’ shareholding in the club and Amanda Staveley will step down from all her roles at Newcastle United.

“Following this, the new shareholding structure will see PIF control around 85% and RB Sports & Media holding the remaining 15% stake in the club. These structural changes are expected to be completed during July 2024.”