Saudis select NUFC chairman ahead of £305m takeover & target revealed for ‘newly-created’ job

With the Saudi backed takeover now imminent and set to be announced any minute now, The Telegraph have released a few intriguing details ahead of the £305m buyout.

As revealed by chief writer Sam Wallace, Yasir al-Rumayyan – the governor of Saudi Arabia’s Public Investment Fund – will become the club’s new chairman once the deal is made official later today.

It’s also believed that the new owners are ‘actively searching’ for a new CEO, with Amanda Staveley and David Reuben – each having a 10% stake in NUFC – will be nominated as non-exec directors.

Elsewhere, The Telegraph have revealed that the prospective buyers are lining up a move for Manchester City’s academy director Jason Wilcox, considering him for a newly-created sporting director role.

See snippets on both updates below:

The Telegraph on Yasir Al-Rumayyan:

Yasir Al-Rumayyan is expected to be named the new chairman of Newcastle United when the £305million Saudi Arabian-led takeover of the club is finally announced.

Al-Rumayyan, 51, heads PIF, which is chaired by Saudi Crown Prince Mohamed bin Salman and has assets of around £300billion, meaning it is regarded as the world’s biggest sovereign wealth fund.

Through PIF investments Al-Rumayyan sits on the boards of Uber, SoftBank Group and Reliance Industries which is the largest publically traded company in India. He is also on the board of Saudi Aramco, the state oil company.

The Telegraph on Jason Wilcox:

Newcastle United’s prospective new owners are considering a move to appoint a sporting director, with Jason Wilcox, the Manchester City academy director, among those considered a suitable candidate for the newly-created job.

The former England international who had a good playing career chiefly at Blackburn Rovers, as well as at Leeds United and Leicester City, has become a key figure in the modern City, heading their drive to create one of the most successful development programmes in world football. He would be a major loss to the Premier League champions.

Wilcox, who won three caps for England under Terry Venables and was a Premier League title winner with Blackburn, has been at the heart of City’s drive to recruit and develop the best players in Britain and further afield. 

About Olly Hawkins

Olly has been a Junior Magpie from birth. As a season ticket holder and avid Newcastle United fan - he eats, sleeps and breathes all things NUFC.

3 thoughts on “Saudis select NUFC chairman ahead of £305m takeover & target revealed for ‘newly-created’ job

  1. For all we don’t like the way Ashley ran the club , he has pulled off a pearler of a deal for us going forward , so for that I applaud you Mr Ashley

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  2. never ever give this man any applause he has not pulled off a pearler for us he pulled it off for himself , we are just a by-product that will benefit massively but don’t think for one second he wouldn’t have sold it to the same group that bought Burnley on borrowed money as long as his share was the same.

    thatsaid #cans and like you I cannot wait jambo, party at St James’s tomorrow night , and spurs game is going to be fantastic

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  3. Newcastle united is a massive team with a massive crowd of loyal fans who love the club so much they need a great manager to bring the team back where they belong a the top of the league good luck for the future

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