LONDON • Newcastle owner Mike Ashley is negotiating the £350 million (S$612 million) sale of the Premier League club to Abu Dhabi billionaire Sheikh Khaled bin Zayed Al Nahyan.
The news has produced much excitement on Tyneside but, despite reports in the Gulf it is a "done deal", there could still be a considerable distance to be covered.
While Newcastle have privately confirmed talks are continuing, Midhat Kidwai, the managing director of the Bin Zayed Group, which Khaled founded, said on Monday night "terms have been agreed".
He added: "We can confirm that representatives of Sheikh Khaled are in discussions with Mike Ashley and his team about the proposed acquisition of Newcastle.
"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."
A spokesman for the club declined to comment but it appears several hurdles remain and there are also caveats.
Despite living in Dubai, Khaled is a member of Abu Dhabi's royal family, and a cousin of Manchester City owner Sheikh Mansour.
It had previously been regarded as unlikely that members of the same ruling family would buy rival football clubs.
Mansour's buyout of City was conducted amid the utmost secrecy and, as a rule of thumb, the takeovers that actually happen tend to be conducted in a similarly clandestine manner, so the leaking of details rings alarm bells.
Moreover any new owner would have to pass the league's owners' and directors' test.
Negotiations may or may not have reached that stage, but the league have adopted Newcastle's public "no comment" stance.
The Magpies' possible switch to Middle Eastern control perhaps explains the impasse over Rafael Benitez's contract extension.
His deal runs on June 30, but he has been in negotiations with Ashley over a new agreement and Khaled is thought to be keen to retain the Spanish manager.
Previous takeover bids by British businesswoman Amanda Staveley and former Chelsea chief executive Peter Kenyon evaporated after entering the due diligence stage.
But regardless of some nagging doubts, Khaled, who is said to have always been a fan of English football and has long harboured ambitions to buy a top-flight club, seems to be being taken much more seriously than most.
THE GUARDIAN
Football: Arsenal edge out Napoli to reach Europa League semi
A body recovered by British investigators from the submerged wreckage of a plane that went down in the Channel has been identified as that of footballer Emiliano Sala, police said on Thursday.The
Emiliano Sala's Body Identified as Family Pays Tribute to
Mauricio Pochettino said Tottenham paid the price for thinking their match against Wolves was won in the first half, as they then couldn't raise the "energy" necessary to win the game, after
Spurs press conference live: Pochettino on - football.london
FIFA moved a step closer on Friday to expanding the 2022 World Cup in Qatar to 48 teams and hopes to confirm the plans in June if a suitable co-host can be found. An internal feasibility study
FIFA backs 48-team World Cup in 2022 - World Soccer Talk
We need to keep improving: Singapore football association
LONDON (REUTERS) - Ajax Amsterdam took a massive stride towards a first Champions League final for 23 years as Donny van de Beek's early goal earned a 1-0 win at Tottenham Hotspur in the first leg
Van de Beek gives Ajax edge over Spurs in semi-final
Jan 17, 2019 · AL AIN, United Arab Emirates (AP) Qatar finished the group stage of the Asian Cup with a third straight win, beating three-time champion Saudi Arabia 2-0 on Thursday in a highly charged game amid
World Cup 2018: Russia vs Saudi Arabia, result, video
Lionel Messi scores La Liga-clinching goal for Barcelona off the bench in win over Levante The league crown once again resides at Camp Nou. by Roger Gonzalez
Football: 'Stratospheric' Messi scores 400th La Liga goal in
Lions hungry for victory. Coach Petar Segrt (second from right), in his first match in charge of the Maldives, will be looking to reverse a run of five losses to Singapore, who will be led by
Lions hungry to keep winning after earning rare victory - The
Villans ascend into EPL heaven. Sports World. Next 48 Hours. Nadal upbeat, Wozniacki bitter. premium. On a crowded path, we should all watch our step. Resilient Farrer Park fight back to retain
Azure Lion Demon | Villains Wiki | FANDOM powered by Wikia
South Korea beat China 2-0 to secure top spot in Group C at the Asian Cup on Wednesday as Tottenham's Son Heung-min made his first appearance in the tournament for Paulo Bento's side.. The Spurs
Son Heung-min helps South Korea beat China 2-0 at Asian Cup
2019 World Cup: 10 players to watch in France - usatoday.com
0 comments:
Post a Comment