Newcastle United has now officially withdrawn from the London Stock Exchange following the takeover of the club by billionaire Mike Ashley. The takeover started back in June when Ashley acquired the shares of major holders Sir John Hall and Freddy Shepherd.

Mike Ashley took over the club for a £1.01 share offer which values the business at £131 million. After Ashley’s stake passed the 90% mark such news of a delist from the LSE was merely a formality. The club joins the ranks in the premiership with an increasing number of private takeovers. With billionaire owners Newcastle fans expect a significant cash injection to raise the fortunes for the perennial underachievers.