Newcastle latest news: "Had to pinch myself" after big PIF reveal on club

Newcastle United chairman Yasir Al-Rumayyan and Amanda Staveley

Newcastle United's new owners have set their sights on making the club the best in the world, according to Newcastle World journalist Liam Kennedy.

A takeover worth £305million was finally completed last month, bringing Mike Ashley's 14-year ownership to an end.

What's the latest news involving Newcastle's owners?

The Saudi Arabia-based Public Investment Fund led the takeover, while PCP Capital Partners and RB Sports & Media also boast stakes in the club.

It has resulted in Newcastle becoming the richest club in world football, with the Magpies' backers being worth 10 times more than Manchester City's owners and close to 50 times more than Paris Saint-Germain's Nasser Al-Khelaifi.

Despite their riches, they have walked into a club struggling at the wrong end of the Premier League table and without a win all season.

Among the consortium's first jobs has been searching for a new manager after head coach Steve Bruce mutually agreed to part ways last month.

That proved to be a popular decision within the Toon Army as 94.3 per cent of 5,000 voters in a Newcastle United Supporters Trust survey had called for Bruce to leave St James' Park.

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What has Liam Kennedy said about the owners?

Kennedy insists there is plenty for Newcastle supporters to get excited about following the end of Ashley and Bruce's reign.

The journalist has revealed the new owners are not willing to rest on their laurels after completing the purchase of the club and, instead, have set their sights on winning silverware on Tyneside. 

Kennedy told GIVEMESPORT: "I had to pinch myself because of the kinds of things that were said to me.

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"They haven't come here to make up the numbers. They've come here to make a huge difference.

"They want Saudi Arabia's club, this flagship club that they've bought, to be the best.

"They're not going to be hanging around 10 years to wait to get there."

What's the latest news involving the managerial search?

It has been reported that Unai Emery is the leading contender to succeed Bruce, with former Bournemouth chief Eddie Howe being the only other candidate still in with a chance of taking over at St James' Park.

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Emery is currently bossing Spanish side Villarreal, who he led to the Europa League crown last season.

Despite the report, Guillem Balague has claimed Emery will turn down Newcastle's advances and stay in La Liga.

The owners are hoping to make an appointment before the international break gets underway next week.

However, it has been claimed that Jones could still be in the dugout when Newcastle travel to Brighton & Hove Albion this weekend.

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