Amanda Staveley has promised Newcastle fans that the club's new investors are in it for the 'long haul' and have 'big ambitions' for the club after the Premier League confirmed that the Saudi Arabian consortium completed their £305million takeover on Thursday.
Staveley, Chief Executive Officer of PCP Capital Partners, issued a video minutes after the deal had gone through to reveal how committed the new owners would be to the club, before reassuring fans that it would take time to reach where they wanted to be.
'Newcastle United is an extrodinary football club. There is no other football club quite like it,' Staveley said. 'And there are certainly no fans like Newcastle fans. We at PCP Captial Partners feel privilegded to become custodians of this great club. Led by PIF and including RBSports and Media, we know only too well that the whole community wants a club of which they can be proud, both on the pitch and off.
'This announcement has been a long time coming and we appreciate the patience of the fans, the community, the players, the coaching staff and everyone who works at the club.
'We have followed the discussions in the fans forums and we appreciate so much the support of the fans. Now we're all focused of the future. We have faith in the long-term success at Newcastle United. We are long-term patient investors. We are in this for the long haul. And we're here to invest.
'We don't want to make promises we can't keep. It will take time to get to where we want to get to, but we have big ambitions. We're going to not only invest in players, but the club. We're going to build up the academy programme and over time, we want to see more local kids making it through to the first team.
'The talent is definitely out there, we just need to find the kids and give them the leg-up they need. This club has been at the heart of the community and we want to work hand in hand with everyone connected to the club – with everyone on Tyneside.
'The Newcastle United Foundation is a big part of the community and we are huge admirers of the foundation and everything it has done. Not just in promoting football but for all the community.
'We want to help the foundation expand that excellent work. We are whole-heartedly committed to women's and girls football and the foundation supports the women's team and we are committed to helping the women's team develop and grow. We will be welcoming and inclusive to all, we willf ully support the Premier League's iniatives to combat racism and discrimination, including No Room For Racism and Rainbow Laces.
'All of this will take time. But the investors in this group are patient, long-term investors who make decisions for the long term. Financial success goes hand in hand with footballing success.
'They are one and the same thing. We will run the club responsibly. There's a lot for us to do. And we are under no illusions about that. We are really excited to get started. Thank you.'
More to follow