Red Bull complete Newcastle Falcons takeover
The Gallagher PREM club, who will continue to play at Kingston Park and retain Steve Diamond as director of rugby, will now be known as Newcastle Red Bulls.
Red Bull has aspirations for the team to compete for trophies in England and Europe in the coming years.
The Austria-based company already has significant business interests in football, motor racing and winter sports.
Newcastle finished bottom of the Premiership table in each of the last three seasons.
The new ownership has pledged to develop local rugby talent through a 'strengthened academy program' and deliver 'a world-class fan experience'.
Oliver Mintzlaff, Red Bull CEO of 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.'
Newcastle begin the new season on Friday, September 26 at home to Saracens.
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