Red Bull complete takeover of Newcastle Falcons

The new ownership will retain Diamond as director of rugby and will continue to play at Kingston Park, it was confirmed yesterday.

Diamond believes the takeover is hugely exciting news for the region, but has stressed the importance of patience and says success won't come overnight.

Newcastle finished bottom of the Premiership table in each of the last three seasons. But the new ownership has pledged to develop local rugby talent through a “strengthened academy program” and deliver “a world-class fan experience”.

Diamond, who hasn't yet had the opportunity to sit down and talk at length with the new ownership, said: "I'm really pleased for the club, the region, for rugby in the north.

"I'm a staunch supporter of rugby in the north. My job now is concentrating on the squad and coaching staff. In all honesty, we've had very little conversation so far.

"They've been busy working behind the scenes and they've allowed me to crack on and get the recruitment done.

"We haven't talked anything in reality past next season.

"It's the start of a new beginning for Newcastle Red Bulls, but we haven't talked any real detail other than how do we be sensible and put together a competitive team for this season under the difficult circumstances of recruitment.

"I'm just one of the cogs in the wheel. We'll be looking at world class facilities, players and coaches coming to Newcastle in the next three or four years to really hopefully dominate in the future."

Diamond added: "In all these cases, you can't just rush out and spend money, it never really works.

"The infrastructure is really important - the stadium and training ground, getting our academy right and making sure that's producing kids of the right quality, and make the process happen over two or three years.

"What I intend to do certainly over the next six months is try and stabilise the place. We'll have a competitive squad but that's about it at the beginning."

Red Bull has aspirations for the team to compete for trophies in England and Europe in the coming years.

The club said in a statement: "The newly-named Newcastle Red Bulls will proudly remain at Kingston Park and will build for sporting success with a commitment to developing local rugby talent through a strengthened academy program, delivering a world class fan experience and embracing the innovative approach that Red Bull has brought to its sports initiatives across the world."

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.