Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan claims he has “agreed terms” with Mike Ashley to buy Newcastle United. News of talks between the pair surfaced on Monday morning but a deal now looks to be close. Newcastle have yet to release a statement of their own but it appears that talks are now at an advanced stage.
Sheikh Khaled is a senior member of the Abu Dhabi royal family and he was involved in a reported a £2billion attempted takeover of Liverpool last year that never got off the ground. Magpies owner Ashley is hoping to receive £350million for the club but previous takeover attempts from Amanda Staveley and Peter Kenyon have failed in the last two years.
Newcastle finished 13th in the Premier League this season and Midhat Kidwai, managing director of the Bin Zayed Group, issued a statement on Monday to confirm the talks. “In response to numerous reports in the world media this morning, we would like to comment as follows,” the statement read.
“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.”