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Newcastle United takeover: Mike Ashley remains open to selling Magpies but Bin Zayed Group urged to make their move
After four days of talk, Mike Ashley now wants to see solid progress from Middle East group

Mike Ashley is understood to be waiting for an official bid from Sheikh Khaled to take Newcastle United off his hands.

The Bin Zayed Group have spoken with confidence that a deal can still be struck - but while both United and Sheikh Khaled are on the same wavelength when it comes to the asking price, Ashley stands by to see if he receives the major transaction that would trigger the end of his 12 year tenure.


Despite suggestions that there has been proof of funds shown in the last 24 hours, the overall bid is yet to be tabled and the Premier League have not received the official documentation to get the sale process under way.

Ashley is thought to be concerned that the deal is being played out in the media, something that proved to curtail Amanda Staveley and PCP Capital Partners' interest in buying the club in 2018.

Indeed, caution is very much the watchword from behind the scenes at the moment despite the whirlwind emergence of the Middle East bidders in the last four days.

For all that, Ashley is still very much open to selling but wants to see concrete evidence that the Bin Zayed Group are for real.

The group said on Monday: "We view it as an honour to have the opportunity to build on the strong support, history and tradition of the club. "We have agreed terms and are working hard to complete the transaction at the earliest opportunity."

Insiders also insist that there are two other groups who retain an interest in buying the club but despite claims of them being hurried into action, the Bin Zayed Group appear to be leading the way.

With takeover talk dominating the agenda in Newcastle this week it has left Rafa Benitez demanding answers from the current hierarchy.

Managing director Lee Charnley remains in charge of extending his contract and another week has been wasted in terms of securing targets for the 2019/20 season.

Newcastle are yet to comment publicly on either the potential sale or Benitez's future but public pressure is building for answers from boardroom level as the summer threatens to descend into chaos.

https://www.chroniclelive.co.uk/sport/football/football-news/newcastle-united-takeover-mike-ashley-16345447

New statement from UAE: Terms have been agreed between us and Mike Ashley; these terms have been reflected in a document, signed by both parties, which has been forwarded to the Premier League. #nufc

Midhat Kidwai: "We feel the need to clarify this point in order for the fans and the general public to understand the timelines." #nufc

Newcastle United takeover: Bin Zayed Group release fresh statement claiming documents have been sent to Premier League
Bin Zayed Group have addressed concerns from fans on their bid to take over at St James' Park

The Bin Zayed Group have issued a new statement regarding their bid to buy Newcastle United.

Sheikh Khaled is in talks with Mike Ashley over a £350million but after a week of questions the group have now responded to the public.


United sources insist they are yet to receive an official bid.

But in a statement from Bin Zayed Group's managing director Midhat Kidwai, he said: "In consideration of the numerous speculations in regards to the timelines of the acquisition of Newcastle United Football Club by Bin Zayed Group, we feel the need to issue this statement.


"Terms have been agreed between us and Mike Ashley; these terms have been reflected in a document, signed by both parties, which has been forwarded to the Premier League.

"The proof of funds statement was forwarded to Mike Ashley’s lawyers on 17 April 2019.

The so called fit-and-proper Premier League process is a standard procedure which will take time, and we are doing all we can to assist the Premier League during this process.

"We feel the need to clarify this point in order for the fans and the general public to understand the timelines."

United boss Rafa Benitez is still to agree his contract extension with the Magpies and it remains unclear if Bin Zayed Group will retain him as boss.

https://www.chroniclelive.co.uk/sport/football/football-news/newcastle-united-takeover-bin-zayed-16347758

Newcastle United: Sheikh Khaled claims to have provided proof of funds to buy club

The investment group in talks to buy Newcastle United says it is "assisting" the Premier League in its fit-and-proper-person test and has provided proof of funds to buy the club.

The Bin Zayed Group, representing UAE billionaire Sheikh Khaled bin Zayed Al Nahyan, agreed terms with Magpies owner Mike Ashley on Monday.

The group said that a signed document of these terms had now been sent to the Premier League.

The deal is worth a reported £350m.

Sheikh Khaled, a relative of Manchester City owner Sheikh Mansour, failed with a £2bn takeover of Liverpool last year.

"The proof-of-funds statement was forwarded to Mike Ashley's lawyers on 17 April 2019," the Bin Zayed Group said in a statement.

"The so called fit-and-proper Premier League process is a standard procedure which will take time, and we are doing all we can to assist the Premier League during this process.

"We feel the need to clarify this point in order for the fans and the general public to understand the timelines."

The Premier League and Newcastle declined to comment when contacted by BBC Sport.

https://www.bbc.com/sport/football/48449769

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BREAKING: Newcastle United have confirmed The Premier League have officially rejected Amanda Staveley’s Saudi-backed takeover of the club. Mike Ashley, who is currently on Tyneside, is now understood to be considering his legal options.

NUFC statement: “The club and its owners do not accept that Premier League chief executive Richard Masters and the Premier League have acted appropriately in relation to this matter and will be considering all relevant options available to them.”

In statement, Ashley says he “understands fans’ frustrations”
and “wants to reassure them that he has been fully committed to ensuring the takeover process reached completion.” They say “he continues to be fully supportive to Steve Bruce, the players and all the staff.”

BREAKING NEWS: Mike Ashley will take legal action against the Premier League over Newcastle's failed £300m Saudi takeover

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