NEWCASTLE UNITED are braced for a £300m takeover – with Mike Ashley set to sell up.
But what is known about their prospective new chairman, Yasir Al-Rumayyan?
Who is Yasir Al-Rumayyan?
Al-Rumayyan, 50, is governor of the Saudi Arabian Public Investment Fund (PIF) who along with Amanda Staveley of PCP Capital Partners and the Reuben brothers, hope to complete the Magpies purchase.
PIF – who are controlled by Mohammed bin Salman, the crown prince of Saudi Arabia – will own 80% of the club, with Staveley’s group 10% and the Reuben brothers 10%.
Al-Rumayyan is also on the board of Saudi Aramco, the biggest oil company in the world.
The PIF group are believed to be worth a staggering £260BILLION, and have offices in London, New York and San Francisco.
Al-Rumayyan must first pass a fit and proper test from the Premier League
What is a fit and proper person test?
Introduced to the Premier League in 2004, anybody who takes over a club, runs one, or owns over 30% of its shares must be assessed on if:
- They have power or influence over another Football League club
- They hold a significant interest in another Football League club
- They become prohibited by law from being a director
- They are filing for bankruptcy
- They have been director of a club while it has suffered two or more unconnected events of insolvency
- They have been a director of two or more clubs of which, while they have been director, has suffered an event of insolvency