Questions About Sheikh Khaled’s Acquisition – The Takeover In General Seems Dubious

We have mentioned Kieran Maguire before on the blog – he’s a well-respected lecturer who specializes in football finance at Liverpool University.

And he is doubtful that Sheikh Khaled’s attempted takeover of Newcastle is as far along as they have reported in two communiques his group have released about the acquisition.

Mike Ashley is notorious for “pretending” there is a takeover of the club happening, only to squash things when he thinks the time is right.

He seems from his previous actions that he doesn’t really want to sell the club.

This is what Maguire said in the Chronicle earlier today about the BZG takeover:

“I’ve got quite a lot of caution in regard to the way it’s being conducted.”

“It’s a high profile club and a one city club and when anything happens at Companies House, for example, I will get Newcastle fans asking me ‘What does this mean?’.”

“I feel like the fans are almost willing it through but it has dragged on for six weeks.”

“Due Diligence should have been completed by now and if it was where it was supposed to be, we’d be nearing a conclusion now.”

It’s a lot longer than six weeks they have been involved in an attempted acquisition since Sheikh Khaled has said the proof of funds was sent to Ashley’s lawyers back on April 17th – that’s over 10 weeks ago.

It looks like it’s gone very slowly – probably because Ashley is dragging his feet.

If we are to believe BZG – they moved in for Newcastle as soon as we were mathematically safe in the Premier League.

However, none of the potential new owners said to be interested in buying the club have been granted exclusivity or begun meeting the Premier League’s directors’ and owners’ requirements.

The Chronicle reported this from PA Sport:

“Sheikh Khaled Bin Zayed Al Nahyan’s Bin Zayed Group declared their hand in May, but they are not the only prospective buyer to have entered negotiations.”

“However, none yet is understood to have been granted exclusivity or begun the process of meeting the Premier League’s owners requirements.”

“History suggests Ashley will wait only so long, as Amanda Staveley and Peter Kenyon can testify.”

Ashley has said he will wait about 2 weeks, but we expect at the end for him to say nobody has come up with the right price – os some other nonsense – so that he cannot sell Newcastle.

If that happens, Newcastle may be dead in the water.

And we’ll have to wait for the owner to appoint a manager who will effectively do what he says.

And that does not include doing well in the league or the cups – it means merely surviving in the Premier League – so the Sports Direct banners continue to be shown around the world on TV during every home game.

Rafa Benitez was not like that – which is one reason he was so loved by our fans.

He wanted to win things – things called trophies.

The break between the owner and the fans may now be irreparable.

We don’t want to go back to how things were under Steve McClaren and others – when we were always second-rate.

We have tasted what it’s like to be managed by a world-class manager like Rafa, and we want that to continue.

What do you think?

Comments welcome.

This article was originally posted here