Billionaire Jamie Reuben, 34, ‘considering Chelsea takeover bid’ despite owning 10 per cent of Newcastle
BILLIONAIRE Jamie Reuben is reportedly considering a Chelsea takeover bid - despite his family owning ten per cent of Newcastle.
The Blues are up for sale following Roman Abramovich's shock decision to sell amid Russia's invasion of Ukraine.
That is understood to include some of his family's wealth.
David and his brother Simon, who own Reuben Brothers and are worth around £5.3billion each, bought a ten per cent in Newcastle as part of the £300million consortium that took over the Toon last year.
Jamie labels himself as a co-owner of the club on his Twitter profile.
And that could lead to complications surrounding any attempt to buy Chelsea.
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Premier League rules state a person cannot hold a position of power or influence - a 'significant interest' is defined as 10 per cent or more - if they own a stake in another club.
The following rule, regarding dual interest, adds: "No Person may either directly or indirectly be involved in or have any power to determine or influence the management or administration of more than one Club.
"No Person may either directly or indirectly hold or acquire any Significant Interest in a Club while such Person either directly or indirectly holds any Holding in another Club."
Reuben, 34, is a Chelsea fan - although he previously was on the board at fellow West London side QPR.
His acquaintances include Prime Minister Boris Johnson, pal Jamie Redknapp and American celebrities Paris Hilton and the Kardashians.
However, Reuben would face strong competition should he proceed with a formal bid for Chelsea ahead of an auction led by Raine Group.
KPMG values the club at around £1.6bn - although Abramovich wants £3bn.
American billionaire Todd Boehly and his Swiss business partner Hansjorg Wyss are waiting to hear back after making an offer.
Last week, Turkish cryptocurrency mogul Muhsin Bayrak claimed he was on the verge of sealing a deal for the European champions.
In addition, Woody Johnson, owner of the New York Jets NFL team, has been tipped as another would-be buyer, as has a private Saudi Media group.
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British tycoon and Blues fan Nick Candy is reportedly set to test Abramovich's resolve of the club by making a £2.5bn offer this week - which includes a plan to redevelop Stamford Bridge.
Owner of NBA side Sacramento Kings, Vivek Ranadive, is readying a bid - as is US billionaire and Crystal Palace minority stakeholder Josh Harris.
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