Deal to buy Prince Andrew's business unravels

Prince Andrew, the Duke of York, has been facing significant pressure to secure funding for his residence in Windsor. Recently, a deal that could have provided him with a financial boost appears to be falling apart. The Dutch company Startupbootcamp (SBC) had been in discussions to acquire Prince Andrew's Pitch@Palace network, which could have offered him a multi-million-pound lifeline. However, sources close to the negotiations have indicated that despite the announcement of an intended takeover and potential funding from Bahrain, no formal agreements have been signed, and no transactions have taken place. This situation arises as Prince Andrew's financial situation has come under intense scrutiny, raising questions about how he can afford to maintain his Royal Lodge mansion. The prince is required to find several million pounds each year to cover security expenses and the upkeep of his 30-room, 19th-century home in Windsor. The potential acquisition by SBC had seemed promising, as the company was reportedly interested in the legacy of Pitch@Palace, which had received 80,000 applications from 3,000 entrepreneurial companies across more than 60 countries. SBC, which has been operating since 2010, specializes in mentoring and growing start-up businesses, particularly in the technology sector. They have invested in 1,700 early-stage companies and run programs in 27 countries. Initially, the takeover of the Pitch@Palace network seemed imminent, with SBC expressing enthusiasm about the partnership and the opportunity to utilize a 'great, but dormant' network of entrepreneurs. However, sources now indicate that despite a meeting at Buckingham Palace and a positive press release highlighting the 'immense value' of the network, no deal has been finalized. No agreements with Prince Andrew have been signed, and no transactions have occurred in Europe, the Middle East, or China. The plans for the acquisition were initially presented as a collaboration between SBC and a Bahraini investment company called Waterberg Stirling. However, it appears that this arrangement is no longer in place, as SBC now seeks to sever ties with the investment firm. Waterberg Stirling was registered in Bahrain in late 2024 by Dominic Hampshire, an adviser to Prince Andrew. The prince has had longstanding connections with Bahrain, and there are strong ties between the UK and Bahraini royal families. King Hamad of Bahrain visited King Charles in Windsor in November 2024, further emphasizing these connections. The situation remains uncertain for Prince Andrew, who has been approached for comment regarding the failed negotiations.