Reuben brothers reaffirm intentions to invest in Newcastle

‘We would welcome any resurrection of talks’: Reuben brothers – who were planning to buy 10% stake in Newcastle as part of £300m deal – reaffirm intentions to invest as they remain ‘totally supportive’ of Saudi-backed bid after failed takeover

  • The Reuben brothers reiterated their desire to be part of a Newcastle takeover 
  • David and Simon Reuben were set to take a small share with a Saudi consortium 
  • The proposal collapsed and all parties withdrew after Premier League scrutiny 
  • But Mike Ashley remains ‘100 per cent committed’ to selling the top-flight club

The Reuben brothers have reiterated their desire to remain part of a Newcastle takeover after the proposals put forward by a Saudi consortium collapsed last week.

David and Simon Reuben have finally broken their silence after the £300million deal sensationally fell through following weeks of extensive scrutiny from the Premier League.

Both were set to take a 10 per cent share of the club alongside the Saudi Arabian Public Investment Fund (PIF) and PCP Capital Partners, spearheaded by businesswoman Amanda Staveley.

The Reuben brothers have reiterated their desire to remain part of the Newcastle takeover

Both were set to take a 10 per cent share of the club before the Saudi-led deal had collapsed

But all three parties formally withdrew from discussions after the PIF became frustrated with the lack of progress over the Owners and Directors tests carried out before any top-flight takeover. 

The deal was agreed with Mike Ashley in April but struck the roadblock after concerns surrounding privacy and human rights complaints in the Gulf state, leaving the controversial entrepreneur without a buyer.  

Recent indications from those involved with the consortium have revealed their wish to haul negotiations back on track, with the Reuben brothers now confirming they too would want to take part.

PIF, chaired by Crown Prince Mohammed bin Salman, were part of the takeover consortium

Businesswoman Amanda Staveley spearheaded the deal and was devastated with its failure

They confirmed their desire for talks with the Premier League to resume in a statement released to Sky Sports News via Martin Cruddance, chief executive of the Reuben brothers-owned Arena Racing Company.

Cruddance said: ‘As owners of Gosforth Park and Newcastle racecourse Arena Racing Company is very disappointed to learn that the bid to takeover Newcastle Football Club has been withdrawn.

‘Given our shareholders – the Reuben brothers – were to be an integral part of the deal we had many plans for our venues and sport in the North East.

‘We were planning on creating one of the premier sporting hubs in the UK, undertaking development work that is vital for the region and enjoying valuable synergies with the Football Club. We continue to hope that those exciting plans are not in vain.

Owner Mike Ashley (L) and club chief Lee Charnley have raised hopes the deal will be revived

Staveley admitted that the investors would also have pumped money into the North-East city

‘We would welcome any resurrection of talks and progress with the Premier League and are aware that the Reuben brothers remain totally supportive of the deal should there be a way forward.’

The ventures alluded to in the Reuben brothers’ statement appear to align with Staveley’s future vision for the city. The 47-year-old, who was also involved in the sale of Manchester City to Sheikh Mansour in 2008, revealed her grand plans to invest in the local area and housing to The Athletic.

Ashley has since confirmed he remains ‘100 per cent committed’ to selling the North-East club to the Saudi consortium despite the collapse.

His comments were also echoed by managing director Lee Charnley, who hinted to Newcastle fans desperate for a change of ownership to ‘never say never’. 

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