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Other parties interested in buying Newcastle United locked in negotiations with Mike Ashley – Report

6 months ago
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Is Mike Ashley finally going to sell Newcastle United.

Having passed the 12 year point in his ownership, fair to say vast majority of Newcastle fans had given up hope.

That is, apart from that small piece of hope that will always remain in us all, similar to the hope of winning a trophy after a barren 50 years.

These past 36 hours though have seen a rollercoaster of hopes and emotions, sparked by Sunday night’s claims of an imminent sale of the club by Mike Ashley to Sheikh Khaled bin Zayed Al Nehayan.

With some parts of the media attempting to chase down the story/truth as to what exactly the situation was/is (whilst many others just made it up as they went along, as per usual…), as always it became difficult to know what to believe.

The day’s events were kind of rounded off by a statement (see below) released on late Monday afternoon by Midhat Kidwai, who is the MD of the Bin Zayed organisation.

He stated/claimed: ‘We have agreed terms and are working hard to complete the transaction at the earliest opportunity.’

The reaction to that from both media and fans being to debate endlessly as to what exactly this meant, could the statement be trusted and if indeed terms had been agreed, what now then needed to happen for that to turn into completing the transaction.

As always, still more questions than answers.

Wading into the debate is Luke Edwards who covers Newcastle United for The Telegraph.

He brings both positives and negatives for Newcastle fans desperate to see the back of Mike Ashley.

The Telegraph man says that Newcastle United/Mike Ashley are sceptical and ‘although a price has been agreed with the Al Nehayan, the United Arab Emirates based businessman is yet to provide proof of funds with sources indicating there is a long way to go before a deal is concluded.’

So basically an acknowledgement that there has been talks, due diligence (looking at the books) done, a price agreed, but now a case of is the interested party now going to put the money on the table, or as Luke Edwards and other journalists are asking, if the money actually even there to be put on the table?

There is however another strand to the story/this report, with Edwards saying that his information is that whilst we wait to see whether Sheikh Khaled bin Zayed Al Nehayan pays the agreed price, Newcastle fans should be aware that there are other potential buyers hovering as well.

He states that talks have been ongoing with other possible purchasers and that these have been ‘taking place under strict rules of secrecy for some time.’

Connected to that, the man from The Telegraph says ‘Interestingly, Ashley insisted he would walk away from any deal if details were leaked before an agreement was in place, as he was tired of people using the club to boost their profile.’

However, what I think we can all be confident of, is that if the money is shown to be there and he really is genuine about selling Newcastle United this time, Mike Ashley will be taking the money without a second thought.

It is all a bit like the laughable claims by Ashley in the past that he would only sell the club to somebody who was genuine and could take NUFC forward, when in reality we all know that after the way he has treated the club and fans for 12 years, he would sell us out to any chancer/charlatan…or another Mike Ashley, who was willing to give him enough money.

The Mag – Monday 27 May 2019:

Sunday night saw the breaking news from The Sun, claiming Mike Ashley had agreed to sell Newcastle United to Sheikh Khaled Bin Zayed Al Nahyan (pictured above).

The figure was quoted as £350m.

Since that point we have had countless ‘updates’ with varying claims as to exactly what point the deal was/is at.

Fair play though to the original source, the newspaper who broke the story.

As they have come back with a statement/quotes from Midhat Kidwai, who is the MD of the Bin Zayed organisation.

“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.”

This coincides with more optimistic reports from the UAE media as to how close the deal is, as compared to most of the UK media.

The Sun update on Newcastle United sale with statement from MD of Bin Zayed group:

‘Newcastle takeover by Sheikh Khaled close to completion with ‘terms agreed’ and £350million deal expected ‘at the earliest opportunity’

SunSport have received a statement from the Bin Zayed Group that confirms the deal is almost over the line

THE sale of Newcastle United to Sheikh Khaled Bin Zayed Al Nahyan is close to completion with “terms agreed”, SunSport can reveal.

Midhat Kidwai, Managing Director of the Bin Zayed Group, has revealed that Mike Ashley and the Group are “working hard to complete the transaction at the earliest opportunity”.

The Bin Zayed Group have now released the following statement exclusively.

It reads:

“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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