We were led to believe that because Amanda Staveley was situated in the Middle East and knew lots of wealthy middle-east investors that those interested in buying Newcastle were from that region.
David Conn of the Guardian has revealed today the investors were actually from London and are the wealthy Reuben family.
Conn has reported he got the go-ahead from Amanda Staveley to reveal who the real investors would have been – if the deal had gone through.
They are said to be the co-investors in the takeover attempt of Newcastle, which has ultimately failed.
The business is the Reuben Brothers’ business and led by David and Simon Reuben, who are both in their 70s.
The brothers were born in Mumbai, India and arrived in London in the 1950s with their mother, Nancy, and lived in Islington.
Simon and David Reuben
They were listed in 2017 in the Sunday Times richest list as 3rd richest in Britain and worth £14B.
In the Forbes World Billionaires of 2017, they were listed as the 65th richest in the world with a net wealth of $15.3B – about £11B.
Their business activities are mainly in the UK property market, where they have a substantial portfolio of debt-free assets.
As of 2016 their business activities mainly involved real estate, both in the UK and abroad, venture capital, and private equity.
David Conn has reported that the main man involved in the negotiations from Reuben’s camp was David Reuben’s 31-year-old son Jamie.
He was the one involved with Ms. Staveley as they bid for Newcastle United.
Conn has also surprisingly reported that when the November offer of £250M was not accepted, the deal was off as far as the Reuben camp was concerned.
The piece by David Conn in the Guardian seems to support the case made by Mike Ashley that not much has happened in four months other than the £250M bid in November.
Ashley thought that offer was undervaluing the club and no further proposals were made.
Here’s a piece from the Guardian report which quotes a spokesman for the Reuben family saying the deal is definitely off:
“It is true that we did have a look at it, but nothing actually happened,”
“We are not investing in Newcastle United either as Reuben Brothers or as any individuals, including Jamie.”
This is looking like what happened in 2008 all over again, and Mike Ashley could eventually take the club off the market if he doesn’t get the high price he wants.
If that happens it will be a complete and utter disaster for Newcastle fans everywhere.