The Saudi-led takeover of Newcastle United has been completed, putting an end to Mike Ashley's 14-year ownership of the club.
A statement from the club's official website read: “An investment group led by the Public Investment Fund (PIF), and also comprising PCP Capital Partners and RB Sports & Media, has completed the acquisition of 100% of Newcastle United Limited and Newcastle United Football Club Limited from St. James Holdings Limited.
“The Investment Group is comprised of long-term, patient investors who have every confidence in the future success of the Club.
“Today’s announcement is the conclusion of a thorough and detailed process that has allowed the Investment Group to arrive at a deal that benefits all stakeholders and will leave Newcastle United well-placed to pursue a clear, long-term strategy.
“For PIF, one of the world’s most impactful investors, the acquisition is in line with its strategy of focusing on key sectors including Sports and Entertainment, and aligns with PIF’s mission to actively invest over the long term – in this case, to harness the Club’s potential and build upon the Club’s legacy.”
Now that the takeover has finally been confirmed, Newcastle have become one of the world's richest clubs, and could well go on to compete in the Premier League like they once did.
That's inevitably worried rival fans, who think that the Magpies may end up surpassing their clubs in both the league table and in competition for trophies.
Take a look at what's been said on Twitter.
It's been a long time coming for Newcastle fans who've protested against Ashley's ownership for a number of years, but with the takeover now secured, the Tyneside support have a lot to look forward to.
