Newcastle United takeover: New details cast doubt over Bin Zayed funds as American hedge fund enters picture
A Japanese-backed American hedge fund has reportedly held talks with the Dubai-based Bin Zayed Group – the outfit interested in buying Newcastle United.
A Daily Mail report claims the Japanese owned SoftBank company allied with the American outfit, Fortress Investment Group, are one of a number of interested parties talking to Bin Zayed. The fresh details cast doubt over the level of resources the Bin Zayed Group have to fund a takeover.
It is reported the group wishes to provide expensive debt financing for a takeover of the Premier League club, which is owned by Mike Ashley, who remains deeply unpopular with Magpies fans.
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Sheikh Khaled bin Zayed Al Nahyan, who controls the Bin Zayed Group, first showed an interest in May.
Mail sources report talks between Ashley and Bin Zayed have been put ‘on ice’ but Bin Zayed is thought to have appointed accountants from KPMG and layers from Pinsent Masons to work on a deal.