Who is incoming Newcastle chairman Yasir Al-Rumayyan, what is PIF group’s net worth and what is a fit and proper test? – The Sun

NEWCASTLE UNITED are braced for a £300m takeover – with Mike Ashley set to sell up.

But what is known about their prospective new chairman, Yasir Al-Rumayyan?

Who is Yasir Al-Rumayyan?

Al-Rumayyan, 50, is governor of the Saudi Arabian Public Investment Fund (PIF) who along with Amanda Staveley of PCP Capital Partners and the Reuben brothers, hope to complete the Magpies purchase.

PIF – who are controlled by Mohammed bin Salman, the crown prince of Saudi Arabia – will own 80% of the club, with Staveley's group 10% and the Reuben brothers 10%.

Al-Rumayyan is also on the board of Saudi Aramco, the biggest oil company in the world.

The PIF group are believed to be worth a staggering £260BILLION, and have offices in London, New York and San Francisco.

A-Rumayyan must first pass a fit and proper test from the Premier League

What is a fit and proper person test?

Introduced to the Premier League in 2004, anybody who takes over a club, runs one, or owns over 30% of its shares must be assessed.

  • They have power or influence over another Football League club
  • They hold a significant interest in another Football League club
  • They become prohibited by law from being a director
  • They are filing for bankruptcy
  • They have been director of a club while it has suffered two or more unconnected events of insolvency
  • They have been a director of two or more clubs of which, while they have been director, has suffered an event of insolvency

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