It marked the end of Mike Ashley's 14-year ownership of the club in which all hope and joy had been drained away.
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The arrival of the consortium led by PIF along with PCP Capital Partners and RB Sports & Media to Tyneside was greeted with huge excitement as Magpies supporters could finally dream again.
Overnight, the Toon suddenly had the world's wealthiest owners.
Newcastle icon, Warren Barton, remembers that day fondly.
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Speaking exclusively to talkSPORT.com, he said: "The hairs on my arms stick up just thinking about it.
"It was a very special day and a big part of Newcastle's history going forward.
"The fans will never forget what they (the consortium) have done for Newcastle. Whatever happens in ten years, 20 years, whether we win something - the fans won't forget that because it gave them hope, belief and pride."
Barton, who now lives in San Diego, California, recalls how he found out Ashley's time at NUFC was over.
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"I couldn't sleep that night, touching base with journalists, speaking to ex-players.
"With my time difference, I am eight hours behind, so I was picking up my phone in the middle of the night, and I got a response from Al (Alan Shearer), and he said, 'it's happening'.
"It was just pure jubilation. I was so pleased and the fans' reactions made me proud again and made me proud of them because I know what they are like.
"We didn't know what was going to happen, but we all knew it was better than what we've had, and that feeling was pure relief and joy and excitement and people were being interviewed while hungover (Sam Fender) - it was fantastic.
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"That day will always relate to me as a special day. It's a special club; don't let anyone tell you anything different, Newcastle is unique, and once you get that, you are onto a good thing."
Barton might have been born and grown up in the south of England, but Newcastle is home.
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Throughout our chat, his passion and enthusiasm for the city and the fans is undeniable.
He was part of the great 'Entertainers' team and played for managers and owners who understood what Newcastle United meant to its people.
This is what Ashley never got, but Barton thinks Newcastle have the right people in charge now.
"The foundations are there, and the understanding of the football club (is there). And that's the biggest thing. This ownership, particularly Amanda (Staveley) and her husband (Mehrdad Ghodoussi), understand what it means to the people and the city, which is a powerful thing.
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"That's what Sir Bobby (Robson) and King Kev (Kevin Keegan) had in their hands. They knew that straightaway.
"The first thing they (the consortium) did, a small thing, they cleaned the ground's windows that was such a poignant moment because it made the fans realise the owners understood what the club means."
Cleaning the windows at St James' Park seems small, but it rarely happened under Ashley's tenure.
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The stadium, like the club, was forgotten about as the Toon plodded on with the only aim Premier League survival.
When talking about the protracted takeover process, it is clear Ashley's Newcastle angered Barton.
"It was 14 years of just nothing. No guidance, no enjoyment, there were a few moments, but the club was never pulling in the same direction.
"I had eight fantastic years up there - the best time of my life. And the club was a shadow of itself.
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"The team and the stadium just looked like a shop that was rotting away, and it was sad, really sad, and on the border of making me angry, because I know from the time I had up there, we gave it everything and showed we cared."
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The takeover by PIF, PCP and the Reuben brothers was initially going to happen in 2020.
Ashley was a willing seller, while the consortium believed the Magpies were the Premier League's 'last uncut diamond'.
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But concerns from the Premier League over piracy in Saudi Arabia saw the whole deal stall and bog down, with the top-flight refusing to decide.
Numerous legal challenges were launched, and the takeover looked doomed.
But Barton and many Newcastle fans still believed.
"It was very tough. Very difficult. We had all been through COVID, which was hard and then looking at the team and how it was performing was very disheartening.
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"I wouldn't say I lost hope because I think being up there, they don't give in. They keep fighting until the end.
"So that was what kept my belief going. I wasn't going to turn my back on it. I am 5,000 miles away, so I could have easily just said, 'it's up to them,' but I didn't. I felt the responsibility of being an ex-player, ex-captain and having a platform."
Once the Saudis lifted their ban on beIN SPORTS, the deal was waved through, and just like that, Newcastle had new owners.
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And here we are a year on, where everything has changed.
Of course, with their new-found wealth and growth, there have been difficult questions aimed directly at the Magpies about Saudi Arabia's human rights record and the club's Saudi-style third kit.
These come because of PIF's interaction with the Saudi state and Barton is happy these issues are being highlighted.
"I think what it's done is make everybody aware of what's going on.
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"The Newcastle fans are great people and understand what is going on. I think it's made it a conversation.
"So, it's being spoken about and the spotlight is on the situation, and it's the same in Qatar.
"But I think the club, and Eddie (Howe) in particular, have handled it in a way they thought would be beneficial going forward."
Barton mentioning Eddie Howe perfectly leads us to discuss the gaffer and instant Tyneside hero because, over this last year, Howe has played a huge role in Newcastle's rise.
The takeover signalled the beginning of a new regime off the pitch, but on the pitch, Ashley's fingerprints were all over the squad.
Years of underinvestment and lack of ambition had caught up with the Toon, and under Steve Bruce, they looked doomed to relegation.
So when Howe arrived after Bruce was dismissed, he had an enormous task on his hands.
People will point to significant investment in January (more on that later). but the transformation under Howe and his backroom staff has still been remarkable.
Jonjo Shelvey, Joelinton, Fabian Schar and Miguel Almiron were rejuvenated as the Toon became the first side in top-flight history to fail to win any of their first 14 games and avoid relegation.
This has continued this year, with the Magpies losing only one of their opening eight.
The 44-year-old currently boasts the third-best win percentage of any Premier League Toon boss, with Bobby Robson and Kevin Keegan the only ones ahead.
Howe has been instrumental and Barton recognises this.
"I think he's done an excellent job.
"Just listening to how hard he was working on the training ground and improving the players he had there.
"He's done a very good job. I think he has endeared himself to the public. His staff have done well. Everything I hear from the training ground is good. The sessions are different, upbeat and high tempo."
And what of Howe replacing Gareth Southgate?
"No, I am not worried about England.
"He's in a special position, and I think he realises that if he can continue the good work from the last few months. He will be on a wonderful platform as a living legend if he manages to win some silverware or break into the Champions League.
"England might come round another time."
Newcastle's home form is one of the many noticeable improvements under Howe.
In 2022, the Magpies have only lost two games on home soil, one to Liverpool and one to Cambridge United.
And can you guess who was at the Cambridge match and hasn't been since?
"That's why I am not going back!
"I went to that game, and I hadn't been invited back for many years, so I reached out to the owners, and they said, 'come along, it would be lovely to see you'.
"I spent a little bit of time with them, but we bloody lost, so I won't be going back.
"I wouldn't dare email the owners because they will say 'get lost, you can watch it from San Diego.'"
The former Toon man is joking, but that game was an important moment because Kieran Trippier made his debut, and by the end of January, he had been joined by Chris Wood, Bruno Guimaraes, Dan Burn and Matt Targett.
The ownership and Howe worked together to sign players in key positions, but crucially, good characters as well.
And Barton has been impressed by the Toon's transfer business.
"I think the signings have been exactly what we needed. I think when you look at what Man City did, they were just signing names, but our signings have been thoughtful and considered.
"I think Bruno is a class player, but I think Trippier is our best signing. He's a leader. I love the way that he plays and the goals he's scored.
"I think he has embraced that role of being a leader and has the utmost respect from everybody.
"And we've brought young, hungry players that have made everyone else better."
Since January, the Toon have spent over £200m and have smashed their transfer record on Alexander Isak.
And Barton has an ideal signing in mind for next summer.
"If you are asking me, I would go and get (Jude) Bellingham.
"It may sound crazy, and maybe I am saying it, but we can actually think about that. Could he be a marquee signing like (David) Ginola, (Les) Ferdinand and (Tino) Asprilla?
"He would add that wow factor, and that's what you need to do to make that next jump into the Champions League.
"I don't think we will get him because he has been linked with the biggest clubs in the world, but why not?"
'Why not?' It's the perfect phrase and encapsulates how Newcastle fans can now perceive things.
Their club is no longer just happy to exist; they want to compete at the top, which excites Barton.
"The fans just want to compete.