Red Bull takes over Newcastle Falcons, rebrands as Red Bulls
The club will remain at Kingston Park as they look to continue developing local rugby talent through a strengthened academy program, backed by their new owners.
Steve Diamond continues to play his part as Director of Rugby as the club looks to enter this new era of improved results and success.
Oliver Mintzlaff, Red Bull CEO Corporate Projects and Investments, said: "Together, we aim to elevate rugby to new heights and deliver unforgettable moments for our fans. We're delighted to have acquired Newcastle Red Bulls and look forward to empowering the club to reach its full competitive potential."
Simon Massie-Taylor, CEO of PREM Rugby, added: "Red Bull's takeover of Newcastle is a landmark moment for our sport and a powerful endorsement of our vision and strategy for the future of the Gallagher PREM.
"We are hugely excited by Red Bull's ambition for the club, which includes developing the player pathway in the North East and growing the club's fanbase. Their track record in global sport, from high-performance expertise to world-class marketing, will bring enormous value not only to Newcastle but to the Gallagher PREM as a whole.
"I would like to formally thank Semore Kurdi and Dave Thompson, whose long-standing stewardship and dedication to Newcastle Rugby have been instrumental in paving the way for this transformational deal.
"This investment follows a period of sustained fan growth, alongside foundational deals with TNT Sports, title partners Gallagher and other commercial partners, plus the milestone Professional Game Partnership with the RFU, which are all building strength and momentum across the Gallagher PREM and the English game.
"It validates the progress we've made, the league's current standing in the sport and its vast potential, which we are working hard to unlock with further reform so we can take the Gallagher PREM to the next level.
"Red Bull share our ambition to raise standards and we look forward to working together to shape the PREM into a world-leading, globally loved rugby competition."
The newly named Newcastle Red Bulls have struggled in recent seasons due to a lack of funding, causing them to flounder at the bottom of the English Premiership. Fans will hope that this takeover will see fortunes change in their favour as the new owners get to work.