Newcastle United Supporters Trust has welcomed the club’s takeover by a Saudi-led consortium.

The Premier League announced the club had been sold “with immediate effect” after resolving legal disputes with the consortium, which had passed the owners’ and directors’ test.

The approval of the takeover means the end of Mike Ashley’s tenure as owner. Ashley bought the Magpies in 2007, but has come under fire from fans for a perceived failure to invest in the team.

NUST said in an open letter posted on Twitter that “for the first time in many years” fans felt the new owners could help Newcastle realise their full potential.

The letter read: “For the first time in many years we believe our desire for an ambitious Newcastle United that strives to be the best it can be can be a reality under your ownership.

“We admire your desire and tenacity to buy our football club despite the protracted issues with the Premier League, and we appreciate your clear understanding of the special place that Newcastle United holds in our communities, the passion of our supporters and your commitment to developing Newcastle United.”

NUST said it was excited at the prospect of a partnership “between supporters and owners that will bring with it the first real hope for many years”.

The fans’ group’s letter continued: “We look forward to learning more details of your plans for Newcastle United and I can assure you that our members will welcome you to Newcastle United.

“In April 2020 we asked our members if they were in favour of your takeover bid with a resounding 96.7 per cent in agreement.”

NUST added: “We look forward to working with you to rejuvenate one of the greatest football clubs in England and I would like to extend an invitation to you to meet with the Board and I in the coming weeks.”

Campaign group Toon For Change also expressed their delight that the takeover had finally been ratified by the Premier League.

Toon For Change spokesperson Joe Moore said: “I’m delighted takeover has gone through.

“There were times I thought we would never see the day, but with pressure from fans we finally have our time.

“I cannot wait for the Spurs game to experience the atmosphere and see what Wor Flags have in store. It feels like we have our club back, but this is just the start.”