Will Bin Zayed Group finally buy Newcastle United from Mike Ashley?
A new report claims that could be the case when Newcastle fans wake up on Sunday morning, just three weeks before the season starts.
However, this new report shows that it is not oil wealth that finances the agreement.
Instead, The Mail reported (see below) that American hedge funds can give money to BZG: The Fortress Investment Group is one of a number of parties that speak with the Bin Zayed Group '…
The last communication of any kind that we had from Bin Zayed Group came two weeks ago, through Peter Redding who is a sports presenter at Radio Capital, based in UAE. While the way they issued this message was a little strange, it seemed that it came from BZG because they never said otherwise.
Peter Redding – July 8, 2019:
After meeting with Bin Zayed Group officials, they want to record the following information for NUFC fans:
"Both parties have worked diligently in completing the agreement, not more than ourselves.
"We have completed every aspect needed in the takeover process.
"The press claims there are no offers or the Premier League approval process is incorrect.
"The current owners have cooperated peacefully throughout this process and if an agreement is not made, it is not due to a lack of effort from both parties."
Obviously, because it is unable to raise money to buy NUFC, it can fall into the category that I think ‘it is not due to a lack of effort from both parties & # 39 ;, although it would be very difficult to believe that this is the problem.
While there is no doubt that Newcastle United can have a much higher income if it is run by ambitious owners and people who do not carry baggage brought by Mike Ashley, load themselves and / or clubs with large debts with high interest rates do not will be the best plan.
Looking for a more positive perspective, you can expect that maybe the Bin Zayed Group has at least the funds needed for the purchase price but can then choose to borrow additional cash for important spending on infrastructure and play squad.
Man Utd, of course bought by Glazer, who then put all the purchase prices in debt to the club, actually uses the club they bought as collateral to complete the transaction. Football finance experts have calculated that since buying the club, the Glazer has cost Manchester United more than a billion pounds, due to massive interest payments to pay off debts, the Glazer's money for themselves, and other costs they have for land the club with. This is comparable to Man City, where in the same period of time the owner has invested more than one billion pounds of club investment.
While Man Utd fans recently stated this (claiming more luck than Newcastle fans with their owners) has caused zero sympathy from NUFC supporters, it is not difficult to see how dominant Manchester United can / will happen if they bring Man Luck City in who bought it.
Talking about luck with the owner … Mike Ashley also put debts to Newcastle United when he bought the club, which was effectively part of the purchase price – such as money that is still NUFC debt to players and the remaining debt of around £ 50 million in mortgages taken to finance the rebuilding of St James Park when the Hall and Shepherd are in control. It is ridiculous that anyone still swallows the line that Mike Ashley was in some way cheated and paid far more than he expected for the club because he did not carry out proper due diligence. These things are at the forefront of annual records and it is impossible for him and his advisors to know nothing about it.
As for the Bin Zayed Group and indeed all other serious bidders – that we were told by the people of Mike Ashley and the others really existed, the question was "Where are you?", As Delia Smith might say after some sherry.
It has been suggested to me that Mike Ashley might insist on anyone who tries to buy a club that before they see their books must sign an NDA, stating that if the sale does not go through, then they are not permitted to make public why it happened.
Therefore, if you say that Mike Ashley has raised prices or insisted on the ongoing arrangement of Direct Sports ads and / or merchandising, no one will be able to tell the world …
Unfortunately, I don't think any of us would expect takeovers to take place and instead we stand before three weeks before the season starts, with only 18 days from the transfer window after today and no one player, and Rafa and the keys of the players left.
Title of e-mail and extract from their report:
& # 39; WE. hedge funds hold talks with Dubai-based Bin Zayed Group for purchases of more than £ 300 million in Newcastle FC
American hedge funds backed by Japanese investment giant SoftBank have held talks with Dubai-based Bin Zayed Group who are interested in buying Newcastle United Football Club for between £ 300 million and £ 350 million.
It is believed the Fortress Investment Group is one of a number of parties who spoke with Bin Zayed about providing expensive debt financing for the takeover of a Premier League club owned by retail tycoon Mike Ashley.
Sources close to the situation said talks between Bin Zayed and Ashley's representatives had been silenced. But Bin Zayed is expected to have appointed accountants from KPMG and lawyers from Pinsent Mason to work on the agreement.
Benteng refused to comment. Zayed Group Bin does not reply to calls for comments. & # 39;