Report details current state of talks between BZG and Ashley over sale of Newcastle

Talks between the Bin Zayed Group and Newcastle United owner Mike Ashley’s representatives over the potential sale of the club are currently on ice, according to the Daily Mail.

The national newspaper claim that sources close to the situation at the Magpies have revealed that talks between the two parties are on hold, but states that Bin Zayed is believed to have appointed accountants from KPMG and lawyers from Pinsent Masons to work on a deal.

The Daily Mail report that BZG have been talking to a number of groups, including Fortress Investment Group,  about providing expensive debt financing for a takeover of the Premier League club.

It is believed that the Dubai-based group are interested in purchasing Newcastle United for between £300 million and £350 million.

OPINION

Just when all the takeover talk appears to have gone away, it returns with a slightly promising update. While the Mail worryingly claims that talks between Ashley and BZG over the sale of the Magpies are on ice, the rest of their report makes it sounds like a takeover is still on. After all, BZG wouldn’t be talking to a number of parties about providing expensive debt financing nor would they have bothered to hire accountants and lawyers to work on a deal if a deal was dead. However, it’s hard to be hopeful about any potential takeover due to the number of false alarms there have been. The Sun previously reported on June 15th, that talks between BZG and Ashley over Newcastle were progressing well, but now over a month later a deal still hasn’t been pushed over the line. So with that in mind, you feel that Magpies fans will acknowledge the sort of positive message out of this report, but would rather just focus on Steve Bruce hopefully getting his team in order ahead of the new season.

This article was originally posted here