It’s been over a year since PCP Partners, the Public Investment Fund of Saudi Arabia and the Reuben brothers agreed to buy the Magpies for £300million before the EFL refused to approve the deal.
But this takeover speculation started well before the Saudi-bid when Ashley again put the club up for sale in October 2017.
From the first beginnings to the very latest – scroll and click through the pages to see our takeover timeline:
. Yasir al-Rumayyan, chairman of Saudi Aramco, speaks during a press conference in the eastern Saudi Arabian region of Dhahran on November 3, 2019. - Saudi Aramco confirmed it planned to list on the Riyadh stock exchange, describing it as a "significant milestone" in the history of the energy giant. (Photo by - / AFP) (Photo by -/AFP via Getty Images)
Yasir al-Rumayyan. Photo: -
. Sunday, May 26 - TAKEOVER ALERT
The Sun publish an exclusive from writer Justin Allen. They claim Newcastle has been sold to the Bin Zayed Group in a £350million deal. Sources at St James’s Park give a “no comment”. Photo: Michael Regan
. Monday, May 27 - Lift off from Dubai!
The Bin Zayed Group issue statement: It reads: “Representatives of His Highness Sheikh Khaled bin Zayed Al Nahyan are in discussions with Mike Ashley and his team, about the proposed acquisition of Newcastle United Football Club". They say "terms agreed.". Photo: GIUSEPPE CACACE
. Tuesday, May 28 - Sources confirm legitimacy
Sources at NUFC confirm the statement is genuine. On the record the Premier League and Newcastle United remain firm in their “no comment” stance. Claims that ‘proof of funds’ have been sent. Photo: Tony Marshall
. Wednesday, May 29 - Statement Mk2
A second statement from the group arrives, further clarifying their stance. The Bin Zayed Group's managing director Midhat Kidwai said: "Terms have been agreed between us and Mike Ashley." They confirm proof of funds sent and Premier League tests started. Sources elsewhere continue to refute this. Photo: Ian MacNicol
. Thursday, May 30 - Now this is getting serious!
It’s established through sources in the Middle East that Sheikh Khaled – BZG’s head – is a second cousin of Manchester City owner Sheikh Mansour, after plenty of claims and counter-claims to the contrary. Photo: Francois Nel
. Friday, May 31 - NDA!
Unofficial confirmation comes out that Newcastle and BZG have signed a non-disclosure agreement (NDA). Photo: Stu Forster
. Sunday, June 2 - Enter Mourinho?
The Sunday Mirror suggests Jose Mourinho and Arsene Wenger are preferred candidates to replace Rafa Benitez, whose deal ends on June 30. Photo: Claudio Villa
. Wednesday, June 19 - The Sheikh is a 'serious player'
Dubai journalist and presenter Peter Redding said: “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.” Photo: Andrew Redington
. Sunday, June 30 - Rafa, the end
Mike Ashley has blamed the Bin Zayed Group for Rafa Benitez’s departure at Newcastle United, according to the Mirror. They claim Ashley ended contract talks with Benitez following discussions with would-be buyer Sheikh Khaled. Benitez’s contract comes to an end. Photo: Alex Broadway
. Monday, July 8 - Obscure statement time!
The Bin Zayed Group have issued a fresh statement on their efforts to takeover Newcastle – this time, bizarrely, through Redding. It read: "Both parties have worked diligently in finalising a deal, none more so than ourselves." Photo: -
. Saturday, July 20 - Concerns about BZG funding
Claims from the financial publications and the City that the Bin Zayed Group’s bid will be linked in to US hedge funds. This is denied privately by sources close to the bid. Photo: Chris Hondros
. Friday, July 26 - THAT Ashley interview
Mike Ashley speaks to Mail about his Newcastle ownership. Claims he is a willing seller. On BZG he said: "The last bid, the one from UAE, he's a prince and he's got £38bn or £100bn, all these numbers — well, why would you even care what you're paying then? What difference would £10m either way make?" Photo: Jordan Mansfield
. Friday, July 26 - Kenyon booted into touch by Ashley
Ashley: "Peter Kenyon convinced me last Christmas that it was going to get done. I'm never doing that again. I think I could own this football club for ever. That is my new mental state." Photo: Ryan Pierse
. Thursday, September 26 - THAT brochure & Kenyon's return
The Daily Mail reveal Kenyon is back on the scene - this time with GACP Sports and Joseph DaGrosa. A 46-page brochure is circulated to the press - and although detailed, it is littered with basic errors. Photo: NICOLAS TUCAT
. Friday, September 27 - A return to scepticism
United sources are sceptical about the Kenyon-led bid and the money behind it. Photo: NICOLAS TUCAT
1. Sunday, May 26 - TAKEOVER ALERT
The Sun publish an exclusive from writer Justin Allen. They claim Newcastle has been sold to the Bin Zayed Group in a £350million deal. Sources at St James’s Park give a “no comment”. Photo: Michael Regan
2. Monday, May 27 - Lift off from Dubai!
The Bin Zayed Group issue statement: It reads: “Representatives of His Highness Sheikh Khaled bin Zayed Al Nahyan are in discussions with Mike Ashley and his team, about the proposed acquisition of Newcastle United Football Club". They say "terms agreed.". Photo: GIUSEPPE CACACE
3. Tuesday, May 28 - Sources confirm legitimacy
Sources at NUFC confirm the statement is genuine. On the record the Premier League and Newcastle United remain firm in their “no comment” stance. Claims that ‘proof of funds’ have been sent. Photo: Tony Marshall
4. Wednesday, May 29 - Statement Mk2
A second statement from the group arrives, further clarifying their stance. The Bin Zayed Group's managing director Midhat Kidwai said: "Terms have been agreed between us and Mike Ashley." They confirm proof of funds sent and Premier League tests started. Sources elsewhere continue to refute this. Photo: Ian MacNicol