Sheikh Khaled insists talks over £350m Newcastle takeover are ongoing with due diligence complete despite Rafa Benitez leaving
NEWCASTLE'S £350million sale to the Bin Zayed Group is still very much ON, according to the latest reports.
The club is in a state of turmoil with manager Rafa Benitez failing to agree a new contract and moving to China to manage Dalian Yifang.
Then just days later star player Ayoze Perez left for Leicester in a £30million deal, with him saying that he was joining a club "that wants to keep growing" - a clear hint at Newcastle's instability.
But despite takeover talk going quiet in recent weeks, it's by no means off the table.
A statement issued through Dubai-based journalist Peter Redding on Monday morning read: "Both parties have worked diligently in finalising a deal, none more so than ourselves.
"We have completed every aspect required in a takeover process.
"Press claims of no bids or Premier League approval processes are simply untrue.
ASHLEY TO FINALLY SELL UP?
"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 Dubai-based company are fronted up by multi-billionaire Sheikh Khaled and they have previously made moves to reassure Toon fans their purchase is going ahead.
SunSport first broke the story on May 26 that current owner Mike Ashley had agreed to sell the club to Khaled for £350m and that the terms had been forwarded to the Premier League.
The Bin Zayed Group confirmed our story the following day.
Newcastle had been subject to previous but unsuccessful takeover attempts from the likes of Amanda Staveley and Peter Kenyon.
Ashley first put the club up for sale in 2008 after Kevin Keegan walked away after a bust-up about transfers – which was the first of three times he tried to get rid of the club.
And the Newcastle owner missed the chance to potentially sell to Sheikh Mansour after refusing to meet him in 2008 before he took over at Manchester City.
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It appears Ashley is not allowing lightning to strike twice now with his cousin’s group.
Shaikh Khaled, 61, is president of the UAE Sailing and Rowing Federation but has always had a keen interest in football and loves the Premier League.
He is founder of the Bin Zayed Group - a leading group of businesses with diverse interests in the local and international markets.
Who is Sheikh Khaled?
SHEIKH Khaled bin Zayed Al Nehayan is an Emirati member of the family who govern Abu Dhabi.
How’s he made his money?
HE established the Bin Zayed Group in 1988 and is among the most successful entrepreneurs in the Gulf states.
Does he have any football connection?
THE Sheikh attempted a record £2billion takeover of Liverpool in August 2018. He is also the cousin of Manchester City owner Sheikh Mansour — although not quite as rich.