London—Dentons has advised Mike Ashley's St James Holdings Limited on the sale of Newcastle United (NUFC) to a joint venture involving the Public Investment Fund of Saudi Arabia, Amanda Staveley's PCP Capital Partners and the Reuben Brothers following settlement of NUFC's arbitration against the English Premier League.

Mike Ashley has owned the English Premier League football club for 14 years.

Matthew Tinger, UK Corporate partner who led on the transaction, said, "We are delighted to have advised our long-time client on the sale of NUFC, delivering a strong result in spite of a challenging time for global markets."

Andrew Henderson, UK Real Estate partner and client partner to owner Mike Ashley, said, "To be involved in a deal of this importance and scale is a tremendous achievement for both the client and the firm."

UK Corporate senior associate Joseph Collingwood assisted Matthew Tinger and Andrew Henderson, Finance partner Catherine Astruc, Real Estate senior associate Abbey Wiggett and Corporate Associate Alex Brady.

Disputes partner Dan Bodle led on the arbitration for NUFC against the Premier League, assisted by counsel Matthew Vinall and associates Matthew Turner and Lara Armes-Venter.

Allen & Overy (led by Richard Evans) advised PIF, Freshfields (led by Christopher Mort) advised PCP and Reed Smith (led by Daryl Cue) advised Reuben Brothers.

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