A report regarding Mukesh Ambani and PIF has come to light regarding Newcastle United’s potential takeover.
According to the report by The Shields Gazzette, Indian businessman Mukesh Ambani, who has twice been linked with a takeover of Newcastle United, has appointed the governor of the Public Investment Fund of Saudi Arabia, Yasir Al-Rumayyan, as an independent director at his company Reliance Industries.
The timing of this partnership comes shortly before the club’s Competition Appeal Tribunal hearing, scheduled for the 27th of this month, which is set to determine whether or not the Premier League were right to block Mike Ashley’s attempts to sell Newcastle to PIF last year.
Considering Ambani’s previous attempts to purchase Newcastle United, in addition to the well-documented takeover attempt of PIF over the course of the past 18 months or so, it would certainly appear as if the partnership between the Indian businessman and PIF governer Al-Rumayyan would be quite a large coincidence, and is something that is sure to intrigue the St. James’ Park faithful.
Indeed, with Forbes listing Ambani as the 11th richest person in the world, with a net worth of $84.5bn (£67bn), the businessman would certainly appear to have the funds to play a role in the takeover of Newcastle, which could potentially develop into a joint bid between PIF and the Indian.
However, it must be stated that this is purely speculation on our behalf, but it is undeniable that two parties who have both demonstrated a keen interest in the purchase of the Premier League side developing a partnership is certainly an interesting development – with the presence of Ambani in a joint takeover attempt – in the place of Amanda Staveley and the Reuben Brothers – potentially offering PIF a route into the club under less scrutiny from the Premier League.