Bin Zayed Group says terms for Newcastle deal sent to Premier League - reports

Bin Zayed Group says terms for Newcastle deal sent to Premier League - reports

REUTERS: Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi's ruling family, says he had agreed to buy Newcastle United and submitted "proof of funds" to the Premier League, British media reported on Wednesday.

British media reports have said this week that Sheikh Khaled is in talks with Newcastle owner Mike Ashley over a 350 million pounds deal for the club, which finished 13th in the league this season.

Doubts had emerged about whether the Bin Zayed Group, of which Sheikh Khaled is chairman, would complete the deal, but it has responded to clarify plans relating to the proposed takeover.

"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," Bin Zayed Group said.

"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."

Ashley, who bought a controlling stake in the Premier League club in 2007, has in the past tried to sell the club.

The owner of British sportswear retailer Sports Direct said last October he had not received any acceptable offers for Newcastle, a year after he officially put the club up for sale, but he told Sky News in December that talks on a deal had made promising progress.

Newcastle United and Sheikh Khaled did not immediately respond to requests for comment.

(Reporting by Hardik Vyas in Bengaluru; Editing by David Holmes)

Source: Reuters

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