Prince Andrew’s pitch financial agreement is likely to collapse

An agreement to resume the old start-up network of the Duke of York now seems to be in doubt, the sources close to the negotiations told the BBC.

The Dutch company StartupBootCamp (SBC) had discussions on the purchase of the Pitch @ palace of Prince Andrew, a sale that could have provided it with a financial rescue of several million pounds.

But sources close to SBC say that despite the announcement of a planned takeover and to speak of possible funding from Bahrain, nothing has been signed and no transaction has been carried out.

This occurs when Prince Andrew’s finances have been under intense control, with questions about how he can afford to live in his Royal Lodge manor after Cut financially by King Charles.

The prince must find several million pounds per year to cover security costs and pay the maintenance of the 19th century house to 30 rooms, in Windsor.

A lucrative revenue source seemed to be on the horizon, with SBC widely reported in the British press as being buying the contacts and the network of the Pitch @ palace project.

In February, SBC announced its plans: “International Investment Group should resume the old world network Pitch @ palace”.

Pitch @ palace had been a dragons style pitching competition for new commercial ideas, created Prince Andrew in 2014 and that himself before leaving his royal functions in 2019.

SBC had declared that it had been attracted by the inheritance of contacts of Pitch @ palace, with 80,000 requests from 3,000 entrepreneurial companies in more than 60 countries.

The Dutch company, which has been taking place since 2010, helps to supervise and develop start -up companies, especially in the technology sector, with investments in 1,700 start -up companies and race schemes in 27 countries.

A takeover of the Pitch @ palace network had seemed imminent with SBC saying that the partnership would be a “fantastic opportunity” and that it wanted to use a network of “large but sleeping” entrepreneurs. In conjunction events had already taken place.

But sources close to SBC now say that despite a meeting at the Buckingham Palace and a positive sound press release on seeing “immense value in the network”, nothing was concluded.

No agreement with Prince Andrew has never been signed or closed, and no transaction has been made, whether in Europe, the Middle East or China, depending on the side of SBC negotiations. Prince Andrew was approached to comment.

The plans to take over the Pitch @ palace network had initially been presented as a project between SBC and its “strategic partner”, an investment company in Bahrain, called Waterberg Stirling.

This arrangement no longer seems in place, sources close to SBC saying that it wanted now to “break the links” with the investment company.

Waterberg Stirling had been recorded in Bahrain at the end of 2024 by Dominic Hampshire, adviser to Prince Andrew. The prince had Longtime commercial connections with Bahrain.

There are also solid links between the royal families of the United Kingdom and Bahreïni, with King Hamad of Bahrain by visiting King Charles to Windsor in November 2024.

Mr. Hampshire is the only named director of Waterberg Stirling on registration documents, but another person related to the company has been Adnan Sawadi.

In July 2024, the entrepreneur Mr. Sawadi made a presentation in China showing the planned partnership between SBC and the successor to Pitter @ palace, Innovate Global, which, according to him, would provide a bridge connecting the financing of the Middle East with projects in China.

His speech praised Yang Tengbo – the man who was later this year would be accused of being a Chinese spySeeking an influence on Prince Andrew, says that Mr. Yang continued to reject as false.