Claims Bin Zayed group have submitted proof of funds to Premier League as they eye Newcastle United takeover - report

Newcastle United's prospective new owners have submitted proof of funds to the Premier League - according to one report.

Tuesday, 28th May 2019, 17:53 pm
Newcastle United takeover latest

The Financial Times have provided an update on the rumoured sale of the club, with Sheikh Khaled bin Zayed Al Nahyan's company keen on finalising a deal with Mike Ashley.

And while a statement released by the Bin Zayed group yesterday suggested a deal had been struck - with reports in Dubai claiming similar - it is believed there is some way to go to finalise a takeover.

Indeed, it was reported that Ashley was yet to see proof of funds from the group despite the claims that a deal worth around £350million had been struck.

The Premier League, too, are thought to be awaiting such details with the Financial Times' report stating that a source close to the league said that they had received no documentation related to the takeover.

Sign up to our daily newsletter

The i newsletter cut through the noise

Several other reports have since confirmed this, with the Premier League believed to have been made aware of the talks but are yet to receive the paperwork.

But a source close to the Bin Zayed group - referenced in the Financial Times' piece - has refuted those claims, insisting that proof of funds and three years’ audited financial statements had been submitted for review.

These conflicting reports do little tp expel some lingering doubts over the group after their failed £2billion takeover of Liverpool, in which the group did not prove they had the sufficient funds.