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Saturday ‘Exclusive’ reports Newcastle United Takeover can be completed by end of June hopefully

3 years ago

News on the Newcastle United Takeover has been scarce.

Repeated ‘No Comment’ from Mike Ashley and his minions at Newcastle United.

Whilst nothing from the Bin Zayed Group since two public statements in May (27 and 29 May)backing up the claims of journalist Justin Allen when he first broke the story.

It was 12 days ago when Justin Allen responded on social media to concerns/scepticism from NUFC fans about the whole Newcastle United takeover story.

Justin Allen via his Twitter account 3 June 2019

“Mike Ashley has agreed to sell the club for.£350m to the Bin Zayed Group. FACT.

“Contracts have been signed. FACT.

“That paperwork is with the Premier League. FACT.

“I also refer you to two public on-the-record statements since I broke the story from the group.

“Two public statements from the group confirming my story.2

Now on Saturday (15 June 2019) morning, Justin Allen has had a new ‘Exclusive’ published (see below).

He claims ‘takeover talks progressing well as Premier League review buyer Sheikh Khaled’s proof of funds’ in an update.

Whilst he also states ‘It is a lengthy process but it is hoped the takeover can be completed before the end of the month.’

Like all ‘updates’ on a Newcastle United Takeover, you can make you own mind up, just don’t shoot the messenger!

The Sun report:

‘TALK OF THE TOON Newcastle £350m takeover talks progressing well as Premier League review buyer Sheikh Khaled’s proof of funds

BIN ZAYED GROUP’S £350million takeover of Newcastle is still alive and progressing well.

SunSport first broke the news that Mike Ashley had agreed to sell Toon to the Dubai-based company – fronted up by multi-billionaire Sheikh Khaled.

The group claim they have already provided proof of funding to the Premier League and have reassured desperate Newcastle fans their purchase is going ahead.

While there has been no comment from the Magpies or Premier League, SunSport understands the deal is moving forward.

It is a lengthy process but it is hoped the takeover can be completed before the end of the month.

Bin Zayed Group said in a statement last month: “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 April 17, 2019.

“We are doing all we can”

“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.”

Earlier this month, Sheikh Khaled was listed as the director of a new company – which could be the vehicle used for his takeover.

Monochrome Acquisition Limited was registered on Companies House to the London address of Pinsent Masons law firm.

The takeover will play a huge part in Rafa Benitez’s future at the club.

Benitez, 59, is out of contract at the end of June but Bin Zayed Group want to keep him as manager.

They will provide him with much-needed funds to strengthen his squad this summer.’


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