Report: Investors worth reported £14bn backing Staveley's Newcastle takeover bid
Multi-billionaire brothers David and Simon Reuben were backing Amanda Staveley’s bid to takeover Newcastle United prior to negotiations failing to result in a deal, according to a report.
The Guardian claim on their website that the siblings, who operate in business under the title of Reuben Brothers, had agreed to provide investment to the British businesswoman, who herself was fronting the takeover approach from PCP Capital Partners.
However, with discussions between Staveley and current owner Mike Ashley having stalled and reported by Sky Sports to have collapsed entirely, it is stated that the brothers have withdrawn their interest in providing financial backing and will not be looking to support another approach.
The duo are reported by the Times’ rich list to be worth an estimated £14billion after making their wealth in metals and property, before diversifying into internet business in recent years.
Newcastle have been up for sale since Ashley released a statement confirming his intention to bring his 10 year reign on Tyneside to an end, but despite elongated discussions with several parties and PCP leading the charge to agree a deal, nothing has come to fruition.
The Sports Direct supremo’s decade at the club has been filled with controversy, having overseen two relegations, and the Magpies are now in the middle of a tax fraud investigation by HMRC.
In other Newcastle United news, the club have been handed a boost after suffering the ultimate hammer blow in takeover talks.