Reports emerged a week ago that Ali Jassim, a close business associate of Manchester City owner Mansour bin Zayed Al Nahyan, is serving as a broker in Saudi Arabia’s plans to buy Newcastle United through the kingdom’s sovereign wealth fund – Public Investment Fund.
His role wasn’t particularly very clear at the time, but he has finally revealed it during the ongoing court case between PCP Capital Partners’ owner Amanda Staveley and Barclays.
As shared by The New York Times’ Tariq Panja on Twitter, Jassim agreed a cooperation agreement to share commission if he helps to source a buyer for the Magpies, but now Staveley is now a principal and he has nothing to do it with it anymore. The businessman has no involvement now in the Newcastle deal, nor any financial interest in it.
Jassim finally talks Newcastle. He’s asked about his role in court today. Says he had agreed a cooperation agreement to share commission if they sourced a buyer, but now Staveley is a principle, he has nothing to do it with its anymore.
— tariq panja (@tariqpanja) June 24, 2020
Staveley called on Jassim to join Kim Kardashian’s Influencer pal Carla DiBello and her in the efforts to secure a credible buyer for the St. James’ Park outfit.
Both had worked together during the purchase of Man City back in 2008, but Staveley is now fronting the PIF’s £300 million bid to own Newcastle, with 10% of the club set to belong to her post-takeover.
The Reuben Brothers will own another 10%, with the remaining 80% going to the Saudis.
The Premier League is expected to deliver its verdict on the bid in the coming days after almost a 12-week wait, and the takeover is widely expected to go through.