Billionaire Doncaster Racecourse bosses part of £300m Saudi takeover of Newcastle United

The billionaire owners of Doncaster Racecourse are part of a £300 million deal to takeover Newcastle United.

Friday, 8th October 2021, 2:39 pm
Doncaster Racecourse bosses the Reuben Brothers are part of the takeover of Newcastle United.

David and Simon Reuben are set to take a ten per cent stake in the Premier League club – but little is yet known about how involved, or otherwise, they will be.

The pair are part of a consortium led by the Saudi Arabian government's sovereign wealth fund which has seen it take control of the club from Sports Direct supremo Mike Ashley.

Earlier this year, the brothers earned second spot on the annual Sunday Times Rich List with a whopping £21 billion fortune.

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They have seen their wealth increase by £5 billion in the last year to see them just one spot off the top in the yearly rundown of Britain’s wealthiest people.

The pair own Arena Racing Company, the firm which runs Doncaster Racecourse.

The group owns and operates 16 turf and all-weather racecoures in the UK, accounting for almost half of all fixtures and more than 500 meetings a year.

As well as Doncaster, the group also controls Windsor and Lingfield.

The pair also own a £63 million superyacht called Siren.

The 241ft palace on water can accommodate 12 guests in six cabins - and the master bedroom has an amazing fold-out balcony.

There is reported to be a lift onboard to get between the four storeys and one of the most impressive features is the Jacuzzi on the deck.

That is situated near to the helicopter landing pad, from where guests can hop off and go to the onboard gym or watch a movie in the indoor or outdoor cinema.

David, believed to be 81, and Simon, thought to be 78, are self-made billionaires.

David started out in scrap metal while Simon made his early money in the carpet business.

The Mumbai-born brothers were educated in North London and also own a £19m private jet, a Capri nightclub enjoyed by the likes of Beyonce and George Clooney and the £120m Millbank Tower in central London.

The deal has excited fans of United with the takeover expected to see the club challenging for honours again after nearly 60 years without a major trophy.