By 90Min
February 18, 2018

News of a new business deal between Amanda Staveley and the Reuben Brothers has offered some encouragement for Newcastle of a potential new bid to buy the Tyneside club from Mike Ashley.

Staveley was reported to be on the brink of completing a takeover deal for Newcastle as recently as last month, with financial support from the Reuben Brothers. But reports played down the prospect of such a deal and no firm bid materialised.

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But as the Newcastle Chronicle now reports,  the Yorkshire-born businesswoman has now spearheaded a deal to purchase a club and property development in Union Square, New York, supported by none other than the Reuben Brothers.

A joint press release from Staveley, PCP Capital Partners and the Reuben Brothers stated: “Reuben Brothers has acquired 16 East 16th Street, Union Square, New York, in conjunction with GSSG Holding and Amanda Staveley, PCP Capital Partners, who have taken a long leasehold interest in the building.

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“The plan is to create a 65,000 sq ft members club and hotel, most likely under Robin Birley’s 5 Hertford Street brand.

“The Reuben Brothers already own the 5 Hertford Street property in London’s Mayfair and are minority shareholders in that operation.”

This £20m deal underlines the strength of the relationship between Staveley and the Reuben Brothers, and sources close to the proposed takeover deal suggest that it is far from dead in the water.

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44-year-old Staveley has links with many business deals in the Middle East and China, and her company PCP Capital Partners has over £28 billion worth of funding from those countries.

PCP helped broker Sheihk Mansour's takeover of Manchester City in 2009, and the company was also part of a joint takeover bid for Liverpool last year, which was rejected by Fenway Sports Group.

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