The takeover has been celebrated by The Chronicle, which has described it this morning as a вЂњnew dawnвЂќ to вЂњrestore the clubвЂ™s proud place in our city.вЂќ While club legend, Alan Shearer told BBC Radio 5 Live that it gave fans вЂњhopeвЂќ and вЂњambition.вЂќ It has recently received a grant from the European space agency to develop an R&D base in the UK. Reuben Brothers is also a major shareholder in hiSky, an Israeli-based provider of satellite-based telecom services. It also owns 4 further UK-based data centres in Thurrock, Milton Keynes, Bedford and Newton on Trent.ДЄccording to the firm, the total data space under its control is now 3.4m square feet, with plans to increase this to 4.5m sq ft. This operates 16 horse racing tracks across the country.ДЄs well as investments in agriculture, shipping, mining, airports and banking, Reuben Brothers also owns Global switch, вЂњthe worldвЂ™s highest credit rated data centre.вЂќ

The former QPR board member is also a director of Arena Racing Company, which Reuben Brothers acquired in 2012. Reuben is the son of billionaire property investor, David Reuben and is a member of the UK's second richest family. It will be James Reuben who will be part of Newcastle UnitedвЂ™s 3-person board, alongside chairman, Yasir Al-Rumayyan and Amanda Staveley. RB Sports & Media is an off-shoot of private equity and investment operation, Reuben Brothers. The Saudi-led consortium behind the move is made up of PIF, PCP, Capital Partners and RB Sports & Media.

Overnight, Newcastle United has become one of the richest clubs in the world, with its new owners having assets of ВЈ250bn.

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