Amanda Staveley, chief executive officer of PCP Capital Partners, said: "This is a long-term investment. We are excited about the future prospects for Newcastle United.
"We intend to instil a united philosophy across the Club, establish a clear purpose, and help provide leadership that will allow Newcastle United to go on to big achievements over the long term.
"Our ambition is aligned with the fans – to create a consistently successful team that’s regularly competing for major trophies and generates pride across the globe."
Steve Bruce is not clear yet, whether he will stay or leaves.
The Premier League has approved the takeover after receiving "legally binding assurances" that the Saudi state would not control the club.
Instead the Public Investment Fund (PIF), which will provide 80% of funds for the £300m deal, is seen as separate state
The sale went through after the deal passed the Premier League owners' and directors' test.
The takeover brings to an end Mike Ashley's 14-year spell as Newcastle United owner.
What's next for Newcastle after £300m takeover?
A Premier League statement said: "The Premier League, Newcastle United Football Club and St James Holdings Limited have today settled the dispute over the takeover of the club by the consortium of PIF, PCP Capital Partners and RB Sports & Media.
"The legal disputes concerned which entities would own and/or have the ability to control the club following the takeover. All parties have agreed the settlement is necessary to end the long uncertainty for fans over the club's ownership.
"The Premier League has now received legally binding assurances that the Kingdom of Saudi Arabia will not control Newcastle United Football Club.
"All parties are pleased to have concluded this process which gives certainty and clarity to Newcastle United Football Club and their fans."
It is believed that a resolution came after Saudi Arabia settled an alleged piracy dispute with Qatar-based broadcaster beIN Sports, which own rights to show Premier League matches in the Middle East.
The Saudi Arabian state has been accused of human rights abuses, but with the majority owner PIF deemed a separate entity, that, and any piracy issues, were no longer an impediment to the takeover, in the Premier League's view.
What do you think about the takeover? Do you see Newcastle United contesting for the EPL trophy in the next five to ten years?
Content created and supplied by: Historicalbams (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More