Newcastle co-owners Mehrdad Ghodoussi and Amanda Staveley escaped injury in a "scary incident" before Wednesday's Premier League game at Liverpool.
Merseyside Police said two men had been arrested following the incident.
"The bike flew right by us and could have hit us easily. It was a scary incident," Ghodoussi, who is married to Staveley, told the Daily Mail.
"Amanda was pretty shaken up but calmed down once we got inside the stadium.
"Thankfully, it appears serious injuries were avoided. But it could have been far worse; the bike drove straight into the crowd.