Bin Zayed Group make bold 'proof of funds' claim in latest Newcastle United takeover statement

Newcastle United's prospective Middle Eastern investors have moved to clarify the takeover situation at St James's Park.

By Liam Kennedy
Wednesday, 29th May 2019, 1:21 pm
Mike Ashley (right) with managing director Lee Charnley.
Mike Ashley (right) with managing director Lee Charnley.

In a fresh statement, released this afternoon, spokesman for the Bin Zayed Group managing director Midhat Kidwai, claimed the proof of funds for the possible £350million Magpies takeover have been sent to owner Mike Ashley.

They claim the document was sent on April 17, this year.

Kidwai also reiterates his earlier claims, that a deal has been agreed between the Bin Zayed Group and the Sports Direct tycoon, with documents signed and forwarded on to the Premier League.

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The statement reads: "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.

"The so called fit-and-proper Premier League process is a standard procedure which will take time, and we are doing all we can to assist the Premier League during this process.

"We feel the need to clarify this point in order for the fans and the general public to understand the timelines."

Newcastle United, at this stage, will not be commenting publicly on the statement.