Newcastle United takeover: Sale price could drop to £300m as Yasir Al-Rumayyan sets up new company

Takeover talk continues to dominate the agenda on Tyneside with fresh reports Newcastle United could exchange hands for £300m, with the consortium keen to take over pushing for a lower price.

Tuesday, 31st March 2020, 12:30 pm

It has also emerged that Yasir Al-Rumayyan, chairman of the Public Investment Fund (PIF) of Saudi Arabia, registered a new company with Companies House earlier this year.

Intrigue is building as fans wait for a takeover breakthrough after years of false dawns.

The Times claim the group bidding to buy Newcastle - PIF, financier Amanda Staveley and the Reuben Brothers - are looking to lower the asking price in light of the ‘huge uncertainty’ in football because of coronavirus.

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Yasir Al-Rumayyan.

They report: “That has sparked conversations about a ‘reduced price’ in order to facilitate the sale. Ashley has varied the asking price for the north east club in recent years between £300 to £400 million.

“The initial price that was put forward by PIF was believed to be in the region of £340 million. The figure offered now is thought to have dropped from there, to nearer £300 million.”

Meanwhile, it has also emerged in the past 24-hours that a new company has been set-up by Al-Rumayyan, the firm - called NCUK Investment Ltd - was registered on January 21, though there has been no confirmation yet that it is connected to a possible takeover of Newcastle United.

Al-Rumayyan is listed as a director on the new company and it has been suggested he would take a place on the board at Newcastle should a successful takeover be completed.

On Monday it was claimed that the Premier League has been “made aware” of a bid financed by the Public Investment Fund of Saudi Arabia and backed by financier Amanda Staveley and the Reuben Brothers, who have property investments in Newcastle.

Newcastle and the Premier League have made no comment on the news, which was greeted by scepticism on a locked-down Tyneside.

As reported, the Gazette understands embattled owner Mike Ashley and senior officials were “bemused” by the latest report, which has come amid a worldwide lockdown due to the coronavirus pandemic.

Football has been suspended in England as efforts to tackle the fast-spreading virus are stepped up.