Abu Dhabi, UAEWednesday 24 July 2019

Bin Zayed Group 'working diligently' to push deal through to buy Newcastle United

The Dubai business group took unusual step on Monday of issuing a statement through a third party to update supporters on progress

Newcastle United ar eye to sign any new players this summer as the Bin Zayed Group wait for Premier League approval to acquire the club from owner Mike Ashley. Reuters
Newcastle United ar eye to sign any new players this summer as the Bin Zayed Group wait for Premier League approval to acquire the club from owner Mike Ashley. Reuters

A Dubai business group in protracted talks to purchase Newcastle United has taken the unusual step of releasing a statement via a third party, insisting it has completed all aspects of the takeover process.

The Bin Zayed Group reportedly issued a statement on Monday via Peter Redding - a Dubai-based radio presenter - saying the group is "working diligently" in an effort to push through a reported £350 million (Dh1.6 billion) deal to buy the English club.

Peter Redding, a presenter at Capital Radio in the UAE, said the quotes were attributed to the Bin Zayed Group's chief executive officer following a meeting with officials.

Reports circulating in British media claim that the relevant documentation had not been submitted to the Premier League, which carries out a vetting procedure before approving a change in ownership. The group said those reports were "simply untrue", according to Redding.

"Both parties have worked diligently in finalising a deal, none more so than ourselves. We have completed every aspect required in a takeover process," Redding posted on Twitter.

“Press claims of no bids or Premier League approval processes are simply untrue.

“The current owners have cooperated amicably throughout this process and if a deal is not forthcoming it will not be due to lack of effort from both parties.”

The Bin Zayed Group did not respond to multiple requests by The National for comment on Tuesday.

Some Newcastle fans reacted to the latest developments with skepticism on social media, saying they offered little clarity over the group's proposed takeover.

In May the group said it had agreed terms for the purchase of the Premier League side from owner Mike Ashley, and this was “reflected in a document, signed by both parties, which has been forwarded to the Premier League”.

The Bin Zayed Group's chairman is Sheikh Khaled bin Zayed Al Nahyan, who founded the conglomerate in 1988.

Newcastle are currently without a manager following the departure of Rafael Benitez at the end of his contract on June 30 and the loss of l​ast season's top scorer Ayoze Perez to Leice​ster City last week.

There is no indication of who Benitez's replacement may be and the Magpies have yet to sign any players this summer.

Updated: July 11, 2019 11:46 AM

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