Revealed: What Yasir Al-Rumayyan's new company REALLY means for the Saudi Newcastle United takeover

A new company registered by Yasir Al-Rumayyan has got Newcastle United fans talking – but what does it REALLY mean for a takeover?

Tuesday, 31st March 2020, 1:00 pm
What Yasir Al-Rumayyan's new company means for Newcastle United and a Saudi takeover

We examine the story behind the new company, and why Newcastle United fans shouldn’t get too excited by this development:

WHAT DO WE KNOW ABOUT THIS NEW COMPANY?

A new company – called NCUK Investment Limited – was registered with Companies House on January 21. This is just a few days before the first reports of Saudi interest in Newcastle United emerged.

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The sole director of the company is Al-Rumayyan, the chairman of the Public Investment Fund (PIF) who are understood to be teaming-up with Amanda Staveley and the Reuben Brothers for a takeover of the club.

Interestingly, the company is registered to the headquarters of the TMF Group – a firm who specialise in ‘international expansion’.

WHY HAS THIS COMPANY BEEN ESTABLISHED AND WHAT DOES IT MEAN FOR A TAKEOVER?

Establishing a company of this nature is fairly common practice when takeover talks reach any stage beyond initial interest.

Any foreign entity keen to invest in an English football club requires a shell corporation to facilitate the transfer of shares should a deal be completed.

NCUK Investment Limited is, at this point, nothing more than that. The formation of the company is just the PIF getting their house in order should they strike a deal with Mike Ashley.

DOES THIS MEAN A DEAL WILL DEFINITELY HAPPEN?

No, not by any means.

All the formation of this company confirms is that Al-Rumayyan and the PIF are looking at a deal. It is by no means a guarantee that an agreement will be reached and is merely a small step on the path to taking control of the club.

We’ve seen similar in the past, with Joseph DaGrosa and GACP Sports registering three companies in the USA last year as they sought a deal.

And who could forget Monochrome Acquisitions, the shell corporation established last summer amid reported interest from Dubai.

HAVE ANY FURTHER COMPANIES BEEN ESTABLISHED?

Yes – Amanda Staveley has established another company PZ Newco.

This is understood to refer to ‘Project Zebra’, the title given to this Newcastle United takeover bid.