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Wednesday, 29 May 2019

Bin Zayed Group confirm ‘terms agreed’ for Newcastle takeover

Newcastle to be sold?

Newcastle’s current owner is Mike Ashley who has been running the club since 2007.

In that time Newcastle have been relegated to the Championship, promoted back to the Premier League and are now once again trying to establish themselves as a regular PL outfit.

In somewhat surprising news, it was reported earlier this month that Sheikh Khaled is in talks with Mike Ashley over the sale of NUFC.

Sheikh Khaled is the cousin of Manchester City owner, Sheikh Mansour.

After seeing what Mansour has done for now Premier League giants Manchester City, Magpies fans may have been very excited to hear they could soon be owned by his cousin.

However, Newcastle fan’s hopes of a takeover were slightly dampened on Tuesday with reports circulating that Khaled had yet to provide proof of funds to the PL for the takeover.

Bin Zayed Group’s statement

Now, on Wednesday the 29th of May, the Bin Zayed Group have issued a new statement. In which they claim the proof of funds statement was sent to Mike Ashley’s lawyers on April 17th.

The statement also mentions that terms have been agreed between Mike Ashley and the Bin Zayed group:

“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 17 April 2019.”As quoted by the Newcastle Chronicle.

BRIGHTON, ENGLAND – SEPTEMBER 24: Rafael Benitez, Manager of Newcastle United looks on prior to the Premier League match between Brighton and Hove Albion and Newcastle United at Amex Stadium on September 24, 2017 in Brighton, England. (Photo by Steve Bardens/Getty Images)

Does Benitez have a future at Newcastle?

After helping Newcastle win promotion back to the Premier League in 2017, Rafa Benitez then guided the North East club to an impressive 10th place finish in the 2017/18 PL campaign.

Newcastle haven’t been as impressive this past season but they still finished in a respectable 13th spot.

However, Benitez could be set to depart St James’ Park very soon when his contract expires.

The Chronicle have reported that talks are ongoing with Benitez apparently wanting a new clause in his contract that will give him the final say on Newcastle signing a player.

But with a takeover seemingly incoming, it may throw a spanner into any current negotiations that have taken place.

If Benitez were to stay at Newcastle and have similar money to that of Man City, the club would most likely become a real force in the English top-flight.

Newcastle players reflect on 2018/19 season

Related: Matthijs de Ligt transfer latest & updates on Man United’s interest in Newcastle’s Sean Longstaff

Man United’s Sean Longstaff deal could hinge on Rafael Benitez’s Newcastle future

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