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National
Michael Marsh

Who are the Reuben brothers? Billionaires named in proposed Newcastle United takeover

They are two of the richest men in the world and have been named as the billionaire property developers who are one of the prospective backers of Amanda Staveley’s bid for Newcastle United.

Widespread reports suggest the Reuben brothers, who have a net worth of around £18bn, are involved in the proposed takeover of NUFC.

Mrs Staveley's Middle East consortium is believed to be undergoing the Premier League's owner's and director's test.

Newcastle United maintained its "no comment" status on Tuesday and Mike Ashley did not respond to approaches from the media.

However, legal documents from Companies House stood up the fact that talks between the Sports Direct founder and Mrs Staveley had been going on this month.

In terms of the deal, Saudi Arabia's Public Investment Fund (PIF) is said to be putting up around 80% of the cash, with Mrs Staveley's PCP Capital Partners funding the remaining 20%.

Mrs Staveley will fund 10% of that personally with the remainder coming from the Reuben brothers, the Financial Times reports.

Who are the people behind the Newcastle takeover bid?

Who are the Reuben brothers and what is their connection to Newcastle?

The Reuben brothers' website confirms they are billionaires with property interests in central London and also Newcastle.

The siblings, in their 80s and 70s, are rarely in the media and Simon, who is three years younger than his brother David, has given only one interview to a British publication in his entire career.

The 2019 Sunday Times Rich List put their worth at £18.664bn.

David started off in the scrap metals business while Simon started out selling carpets both increasing their wealth during the 1970s and 1980s.

They now own large chunks of real estate around the world including four miles of seafront land in Ibiza, the Millbank Tower and Centre in London, along with large swathes of Mayfair and prime estate in the North East.

In Newcastle, the brothers own Newcastle Racecourse, in Gosforth, and three golf courses in the surrounding area.

A CGI of the Pilgrim Place development in Newcastle (Handout)

Most of the East Pilgrim Street area, including the Newcastle Stack site and fire station further up the street, is also owned by the Reubens.

In February, plans emerged to turn listed buildings around Pilgrim Street into bars and restaurants as part of one of the biggest developments in the city centre for years.

The £100m development would see the former Bank of England plot turned into office blocks that could host up to 4,000 jobs.

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