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Newcastle United co-owners Amanda Staveley and Mehrdad Ghodoussi have agreed to sell their shares and leave the club.

They took a 10% stake in Newcastle when they helped to orchestrate the Saudi Arabian-backed £305m takeover of the club in 2021.

The husband and wife's share has since decreased to 6% as Saudi Arabia's Public Investment Fund (PIF) and the Reuben family have increased their own holdings.

Staveley and Ghodoussi will now sell their remaining share in the club to PIF and the Reuben family, giving them 85% and 15% stakes in the club respectively.

"Newcastle United is such a special, unique club and being a co-owner of Newcastle United has been an honour," said Staveley.

"Mehrdad and I have loved being part of this club and community and are extremely proud of the progress Newcastle United has made in recent years."

Staveley added that she and her husband "will remain fans for life".

The pair have been instrumental in the day-to-day running of Newcastle since the takeover, which gave PIF an 80% controlling stake in the Premier League club.

Staveley and Ghodoussi hired manager Eddie Howe in November 2021 to replace Steve Bruce and signed players such as Bruno Guimaraes and Kieran Trippier during their first transfer window in charge to help the club survive relegation.