Reports from the Middle East last week claim the Newcastle takeover by the Saudi PIF group, PCP Capital Partners and the Reuben Brothers is expected to be ratified this week, with only the handing over of \u00a3283million, the outstanding balance of the deal, needed to complete the purchase.<\/p>\n
The Gazette understands the Reubens have finalised plans for a development scheme in the city, comparable to the one undertaken by Sheikh Mansour\u2019s City Football Group in Manchester.<\/p>\n
Football finance expert Kieran Maguire opines that potential Newcastle United investors the Reuben Brothers are set to come under the kind of scrutiny they’ve never seen before.<\/p>\n
Maguire, who offered his views on the Gazette\u2019s Mouth of the Tyne podcast last month, believes the property tycoons will definitely be held to account, if, as expected, their purchase of 10% of the football club gets the green light from the Premier League.<\/p>\n
The Reubens’ 10% stake is set to be supplemented by another 10% stake bought by PCP Capital Partners, as well as an 80% purchase of Mike Ashley’s shares by the Public Investment Fund of Saudi Arabia.<\/p>\n
Maguire said on Bloomberg: “The Reuben brothers will experience a level of scrutiny they have never been exposed to before.<\/p>\n
\u201cThe fans, who are a passionate bunch, will be monitoring companies they are involved in and they will be kept up-to-date with Google alerts.”<\/p>\n