Newcastle takeover glimmer of hope as investment firm reignite interest

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Newcastle United fans could still yet see their club’s ownership change hands after it has come to light that an investment firm owned by the Reuben brothers have reignited their interest to complete a takeover.

Magpie fans were left bitterly disappointed last month when what appeared a solid three-way bid from PCP Capital Partners, the Reuben brothers and Saudi Arabia’s Public Investment Fund (PIF) fell through.

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The proposed deal came under scrutiny when it became apparent that the Saudi-backed consortium had been subject to intense criticism from both FIFA and UEFA for supporting an illegal football match streaming service, as per The Guardian.

However, the northern club have been handed a glimmer of hope today after Martin Cruddace, chief executive of Arena Racing, a company owned by the Reuben brothers, gave a statement exclusively to Sky Sports.

Despite the takeover falling at the final hurdle, it is understood that the Reuben brothers were reluctant to see the plug be pulled on the deal, Cruddace said: “As owners of Gosforth Park and Newcastle racecourse Arena Racing Company is very disappointed to learn that the bid to takeover Newcastle Football Club has been withdrawn.

“Given our shareholders – the Reuben brothers – were to be an integral part of the deal we had many plans for our venues and sport in the North East.

“We were planning on creating one of the premier sporting hubs in the UK, undertaking development work that is vital for the region and enjoying valuable synergies with the Football Club. We continue to hope that those exciting plans are not in vain.”

Speaking regarding of the company’s desire to restart talks to take the Geordie club over, Cruddace said: “We would welcome any resurrection of talks and progress with the Premier League and are aware that the Reuben brothers remain totally supportive of the deal should there be a way forward.”

It is believed that the Newcastle hierarchy remain committed to finding suitable new owners after managing director Lee Charnley said: “Never say never.” when discussing the possibility of owner Mike Ashley selling up.

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