PARTNER IN FAILED SAUDI TAKEOVER BID OF NEWCASTLE FOOTBALL CLUB IS MAJOR TORY DONOR

Wed 28 April 2021:

As allegations of cronyism continue to bog down the ruling Conservative party, it’s now emerged that a co-investors in the Saudi-led consortium behind last year’s failed takeover bid of Newcastle United Football Club is a major Tory donor and a friend of Prime Minister Boris Johnson.

Jamie Reuben, whose family owns the Reuben Brothers property development empire, is said to have previously donated £700,000 ($971,345) to the Conservative party. He is also a co-investors with the Saudi Arabian Public Investment Fund (PIF), and the financier Amanda Staveley, in the £300 million ($416 million) bid to buy the Premier League club from Mike Ashley. Saudi Crown Prince Mohamed Bin Salman is the chairman of PIF.

The deal stalled as the Premier League reportedly pressed PIF for clarity about its structure and whether it is a government entity. There were also deal-breaking concerns over piracy of international football rights by Saudi Arabia. The news also sparked controversy with activists urging the Premier League to block the sale over Saudi Arabia’s human rights records.

Despite the sale not going through, details have since emerged which have raised serious questions over Number 10’s role. The Saudi Crown apparently contacted Johnson in June privately, complaining about the delay and warning him that if the Premier League blocked the takeover, it would have “a negative impact on both our countries [sic] economic and commercial relations”.

Johnson reportedly intervened to rescue the deal and asked his adviser Edward Lister to investigate the chances of the deal being revived. When Lister told the prime minister that he was hopeful it was back on, Johnson is said to have replied: “Brilliant.”

Questions are now being asked about the role of Reuben. A spokesman for Reuben Brothers told the Guardian that Jamie Reuben did not contact the prime minister about the Newcastle takeover. “We’re not denying that Jamie has a relationship with Boris Johnson and they talk,” the spokesman said, “but Jamie is quite specific that he hasn’t contacted or talked to him or Lord Lister about the Newcastle deal.”

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