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
Emery urges fired-up Gunners to keep cool heads
Real Madrid have battled to a 2-1 Spanish La Liga win at Levante courtesy of two penalties, converted by Karim Benzema and Gareth Bale. Wales ace Bale came off the bench and coolly converted from
Bale penalty kick gives below-par Real Madrid win at Levante
thenigerianexpression.com/2019/02/25/bale-penalty-kick-gives-below-par-real-madrid-win-at-levante/
Bale penalty kick gives below-par Real Madrid win at Levante By The Nigerian Expression on February 25, 2019 Valencia (Spain), Feb. 25, 2019 (TNE) Real Madrid's Gareth Bale came off the bench and coolly converted a penalty kick to secure a 2-1 win at Levante in La Liga on Sunday.
Bale penalty gives below-par Real Liga win
Clock ticking for city to close $17.2M gap. By Elizabeth Dobbins, edobbins@lowellsun.com. The city expects additional revenue from local taxes on recreational marijuana, with a quarter of this
Small Cities Feel the Clock Ticking on Opportunity Zones
Encounter specialist Daya Nayak is in the middle of a controversy once again. This time he is being accused of trading bodies with DIG Vanzara of the Gujarat
Boeheim courts controversy again in postgame remarks
Home Sports 'He's great to watch, but he's not God': Pope sets fans straight Sports 'He's great to watch, but he's not God': Pope sets fans straight on Messi
'He's great to watch, but he's not God' - Pope sets fans
Claude Puel has spoken of his "honour" at being given the opportunity to manage Leicester following his sacking at the weekend. The 57-year-old Frenchman's 16-month reign came to an end after Saturday's 4-1 home defeat to Crystal Palace, Leicester's sixth defeat in seven matches.
Sacked Puel says an 'honour' to manage Leicester | The
Ole Gunnar Solskjaer says Manchester United are not scared of playing the second leg of their Champions League quarter-final against Barcelona at the Camp Nou after drawing the Catalans on Friday. United were originally drawn to play at Barcelona in the first leg, which would have given them the
Solskjaer insists United don't fear Camp Nou test after
Morata double earns Spain scrappy win (1:05) Spain produced a second lacklustre performance in the space of four days in an unimpressive 0-2 win in Malta.
Euro2020: Morata's Brace Lift Spain Above Malta - Red Cheetah
Chelsea held 2-2 by Burnley, denting Champions League hopes
Win over Watford more like draw: Ole, Football News & Top
According to the research of Dr. Anders Ericsson, motivation is the most significant predictor of success. In simple terms, Dr. Ericsson found that experts in many walks of life, whether sport
Football: Ikhsan Fandi scores in third successive match for
Obituaries for the last 7 days on Your Life Moments.
0 comments:
Post a Comment