Bin Zayed Group takeover update as prospective Newcastle United owners see clear path to Magpies deal

The Bin Zayed Group think they’re the only bid in town in relation to the Newcastle United takeover.

Saturday, 22nd June 2019, 8:00 am
Updated Saturday, 22nd June 2019, 9:00 am
NEWCASTLE UPON TYNE, ENGLAND - AUGUST 11: General view inside the stadium prior to the Premier League match between Newcastle United and Tottenham Hotspur at St. James Park on August 11, 2018 in Newcastle upon Tyne, United Kingdom. (Photo by Jan Kruger/Getty Images)

The Gazette understands the Dubai-based investors believe they are the only legitimate takeover party in talks – and are keen to strike a deal quickly.

But TWO parties are believed in negotiations to wrestle control of the Magpies from Sports Direct tycoon Mike Ashley.

United are in limbo with the club’s ownership as well as the managerial position in doubt.

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Rafa Benitez’s contract runs out in just EIGHT days, with June 30 seen as a significant date in the view of many fans.

One party who is not interested, or involved, in any proespective deal is Amanda Staveley.

Staveley’s PCP Partners were linked with a 2018 takeover.

Discussing the BZG bid, UAE journalist Peter Redding, speaking exclusively to the Gazette, said: "Sheikh Khaled Bin Zayed Al Nehayan is a well-respected business pioneer of the UAE, of that there is no doubt.

"Given his wealth you only have to look at the company's trading and profits. Here in the UAE local business people do not speak of wealth it is known as Haram (not allowed). But it is definitely safe to say he is a serious player.

"As far as a deal currently – the silence is key. And that can definitely be seen as a positive.

"I have open contact with BZG and, speaking to them, I feel a deal to buy Newcastle United is not far away.

"Knowing the culture of the UAE and being involved in sport, this is no smokescreen. This group are the real deal."