Prince Andrew’s financial affairs have once again come under the spotlight after it emerged that one of his key business assets was administered for two years by a company connected to the controversial businessman Doug Barrowman. Following the fallout from his 2019 Newsnight interview, legal ownership of Pitch@Palace Global – the prince’s international start-up competition – was quietly transferred to Knox House Trustees (UK), a firm then controlled by Barrowman.
Despite the formal ownership shift, Prince Andrew remained firmly in control of Pitch@Palace Global, with nominees acting on his behalf, a longstanding practice within royal circles. Documents filed at Companies House confirm that Knox House Trustees (UK) became the nominee owner in 2021, a company ultimately owned by Barrowman until 2023. Barrowman’s representatives have insisted he had no personal or business involvement with the duke.
Prince Andrew’s financial arrangements have increasingly come under public scrutiny, particularly as questions grow about how he is funding his residence at Royal Lodge in Windsor. His choice of associates has repeatedly raised eyebrows. Last December, the prince said he had “ceased all contact” with Yang Tengbo, the Chinese businessman who led the Chinese arm of Pitch@Palace, after being advised by the UK government of concerns over espionage. Mr Yang denies all allegations of wrongdoing.
Doug Barrowman himself is no stranger to controversy. His tax advisory firm AML Tax (UK) was fined £150,000 in 2022 following an HMRC investigation into aggressive tax avoidance schemes. Barrowman and his wife, Baroness Michelle Mone, were also linked to PPE Medpro, a company awarded major government contracts during the pandemic. They originally denied any involvement but later admitted their connection. The National Crime Agency continues to investigate suspected criminal activity around the contracts, although both Barrowman and Mone deny any wrongdoing.
Author Andrew Lownie, who is preparing a new biography of Prince Andrew, commented: “Andrew has a long history of associating with dubious business figures and disguising his business activities behind nominee and offshore accounts. There really needs to be a full investigation into the duke’s financial activities.”
Pitch@Palace was founded by Prince Andrew in 2014 to help entrepreneurs pitch ideas to potential investors. It operated on two levels: a community interest company for UK-based events, and Pitch@Palace Global Ltd, a for-profit entity for international competitions. While operations were suspended following the Newsnight fallout, the network built by Pitch@Palace was once considered a valuable global brand, and discussions with a Dutch company about a potential sale have continued.
Ownership of Pitch@Palace Global has never been held directly in Prince Andrew’s name. Initially, it was registered under Amanda Thirsk, his private secretary, and later transferred to Knox House Trustees (UK). In 2023, ownership shifted again to Arthur Lancaster, an accountant with close ties to both Prince Andrew and Barrowman. Lancaster, who has previously faced criticism in legal judgments over his reliability as a witness, now retains control.
Despite the Royal Family’s historic use of nominees to shield financial holdings from public view, in this instance, Companies House records openly show Prince Andrew as having “significant influence or control” over Pitch@Palace Global.
In response to the renewed scrutiny, Barrowman’s lawyer stressed: “Mr Lancaster was a director of KHT (UK) Ltd which provided company administration services to a number of external companies, including Pitch@Palace, a company wholly owned by the duke. Mr Lancaster acted for the duke in a personal capacity at all times.”
Prince Andrew has not responded to requests for comment.
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