Sheikh Khaled Bin Zayed Al Nahyan has reassured Newcastle supporters that he has provided proof of funds in his bid to buy the club. The Dubai-based businessman sparked excitement amongst the Toon Army faithful earlier this week when his Bin Zayed Group claimed they had “agreed terms” with current Magpies owner Mike Ashley over a takeover and they were working hard to “complete the transaction at the earliest opportunity”.
However, Newcastle responded to those claims by stating, that although talks had taken place, any deal was still some way from being completed. That has led to scepticism amongst supporters as to whether Sheikh Khaled actually has the funds to complete the protracted £350million takeover, but his company have now a released statement to reassure fans that they have submitted the relevant paperwork.
The statement read: “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. “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.”