Newcastle United takeover deal has taken one step closer to completion after Bander Bin Mogren has just been made the director of the NCUK investment.
Murad Ahmed, editor of the Financial Times, has delivered the news on social networking site Twitter.
The chief operating officer at Saudi Sovereign Wealth Fund PIF, Bander Bin Mogren, just made a director of the NCUK investment vehicle through which the Newcastle takeover is being done. That deal creeps closer…
— Murad Ahmed (@muradahmed) April 28, 2020
The Chief Operating Officer of the Saudi Public Investment Fund has been added to a company linked to the Newcastle United takeover today, which gives a clear indication that the deal is close to being done.
Companies House dcouments show that Bander Bin Mogren, the COO of PiF, was added as a director to NCUK Investment Limited on April 9.
According to reports from the Chronicle, NCUK Investment is a shell company that was set up by Yasir Al-Rumayyan. It will be used to transfer shares from Mike Ashley when the takeover is completed.
Ashley has finally agreed to sell the club to the Saudi investors led by Amanda Staveley for a fee of £300 million, a drop-down of £40m from his initial valuation. The Staveley group has already paid a fraction of the sum, which is non-refundable, while the remaining amount will be paid after the Premier League gives the green signal.
The addition of Mogren on April 9 suggests he will be heavily involved in the Newcastle takeover deal. It has been reported by many journalists that the deal could take place within the next few weeks.