The Gallagher Prem side will be renamed Newcastle Red Bulls and the club have confirmed they will be staying at Kingston Park.

For Red Bull it marks their first foray into Rugby Union having already invested in several other sports, their Formula One team perhaps their best know sports brand.

They also have several football clubs, ice hockey teams and a cycling team. 

For Newcastle the takeover will ensure that they don't suffer the same fate as London Irish, Wasps and Worcester who all went bust within a year of each other as the domestic game struggled to recover from the pandemic.

It will hopefully also lead to better fortune on the pitch, as they have finished comfortably bottom of the league for the past three years.

Speaking on the club's official website 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.”