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New statement made by Bin Zayed Group Managing Director on Newcastle United takeover

5 months ago
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A very interesting update on the much talked about Newcastle United takeover story.

The Managing Director of the Bin Zayed Group, Midhat Kidwai, issuing a new statement on Wednesday.

The Bin Zayed Group MD insisting: ‘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.’

Most interestingly maybe though…

One of the big questions that was thought to be still open to doubt, is not now, according to Midhat Kidwai with this update.

He states: ‘The proof of funds statement was forwarded to Mike Ashley’s lawyers on 17 April 2019.’

This new statement follows one made by Midhat Kidwai on Monday (see below).

With Newcastle United/Mike Ashley making no public comment so far, all that we have had so far from their side of things has been claims by the media as to what they are being told from the St James Park/Shirebrook end of things.

Certainly interesting though that the statement claims proof of funds was provided to Mike Ashley/NUFC way back on 17 April 2019. If there was any chance of a Newcastle United takeover being at an advanced stage now, it would have to have been set in motion some time ago, which this suggests.

Newcastle beat Everton on 9 March and were then realistically safe, having reached 34 points with eight games still to go. So just maybe Mike Ashley does intend to try and sell this time and put the word out to prospective buyers back then. As opposed to the charades we witnessed around supposed Amanda Staveley and Peter Kenyon led interest in 2017 and 2018, when we were supposed to believe a sale could still happen mid-season despite a relegation battle raging at the same time.

The Chronicle reporting new statement from Midhat Kidwai:

“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.”

The statement from Midhat Kidwai on Monday 27 May 2019:

“In response to numerous reports in the world media this morning, we would like to comment as follows.

“We can confirm the representatives of his Highness Sheikh Khaled Bin Zayed Al Nahyan are in discussions with Mike Ashley and his team about the proposed acquisition of Newcastle United Football Club.

“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.

“Best Regards, Midhat Kidwai, Group Managing Director, Bin Zayed Group.”

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