Reports Zabeel Investments Agree To Buy Newcastle


It is being reported that Ashley’s representatives have agreed terms with Dubai’s Zabeel Investments.

Mike Ashley – has deal been agreed with Zabeel Investments?

There was a reported meeting last night with the Company in Dubai, and they were said to be willing to pay up to £300M for the Newcastle club. That would give Mike Ashley a 25% gain on his investment in a short 16 months, and we think that amount would be acceptable to him.

Ashley paid £133M initially for Newcastle and then he added another £110M to pay down the massive debt he inherited.

As we reported this morning if this Group buys Newcastle, their intention is to reinstate Kevin Keegan as manager of the club.

These reports are however very sketchy right now, and there is nothing on the Arabian Business site – so we cannot confirm whether there is any truth in them, but we certainly hope they are true.

We think most Newcastle fans would be happy if this news is indeed true.

As we reported this morning, under Al Hashimi, Zabeel Investments has built up a huge portfolio in its first year, incorporating property development, construction, hospitality, media, finance and education. The group also invested in Abraaj Capital early in 2007, and more recently, the company invested in DICAM’s $2B Global Strategic Equities Fund. DICAM is the asset management subsidiary of Dubai International Capital LLC.

Comments welcome.



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350 comments so far

  • Tom Mo.

    Sep 17, 2008 at 10:08 PM

    Comment #1

    hooray

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  • IrishMan

    Sep 17, 2008 at 10:08 PM

    Comment #2

    Presumably this is good news. Property developers…….. – hopefully no plans to relocate club and sell off St. James’s Park for apartment development.

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  • Seymour Butts

    Sep 17, 2008 at 10:08 PM

    Comment #3

    interesting… guess we’ll just have to see how things turn out. SURELY cant be worse than cashly or fat fred? can it?

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  • richie

    Sep 17, 2008 at 10:08 PM

    Comment #4

    wow

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  • looney_toon

    Sep 17, 2008 at 10:09 PM

    Comment #5

    whooooo – ye hopefully someone willin to invest proper money n bring back KING KEV

    ps – 1st one

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  • Seymour Butts

    Sep 17, 2008 at 10:10 PM

    Comment #6

    anyone know how rich this fella is? on the scale of chelsea? city?

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  • looney_toon

    Sep 17, 2008 at 10:10 PM

    Comment #7

    maybe i wasnt first :'( at least i tried

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  • Toon Graeme

    Sep 17, 2008 at 10:12 PM

    Comment #8

    I hope for the sake of the club and our sanity that this aint bullslocks and the reports yesterday of MA on the piste were him celebrating.

    KK the third coming?

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  • YESSSSSSSSS

    Sep 17, 2008 at 10:15 PM

    Comment #9

    Owww ED , ya cheeky get, i telt ya dis news on da uvver thred an posterd u a link 4 it,

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  • GDP

    Sep 17, 2008 at 10:16 PM

    Comment #10

    I thought this was old news and that they’re not interested in selling and that Ashley was returning empty handed?

    A source would be useful Ed.

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  • shearer9

    Sep 17, 2008 at 10:16 PM

    Comment #11

    I haven’t seen any of these reports?

    Nothing on SSN either.

    Can anybody shed some light?

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  • Simon

    Sep 17, 2008 at 10:16 PM

    Comment #12

    Could be out out the frying pan and into the fire.

    would rather a North East group bought NUFC.

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  • Big Dave

    Sep 17, 2008 at 10:17 PM

    Comment #13

    as much as i would like to see things getting sorted. i dont think anyone should get there hopes up as you know what the papers are like.

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  • Geordie gerrard 7

    Sep 17, 2008 at 10:17 PM

    Comment #14

    how do u know this we, I thought thy had pulled out?

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  • Broadsword

    Sep 17, 2008 at 10:17 PM

    Comment #15

    Seriously, the whol eof the intenet is saying this guy is not interested and talks were broke off but nufcblog.com is reporting its agreed and sold.

    Ed, really sometimes you look really foolish. If you have a source for these reports then just reveal them in the article rather than trying to make up news.

    You have done this far too many times.

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  • KK FOREVER

    Sep 17, 2008 at 10:20 PM

    Comment #16

    hope so arise sir kevin keegan

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  • Grae_NZ

    Sep 17, 2008 at 10:21 PM

    Comment #17

    Please don’t whinge and stand in the street should this go t*ts up!
    We don’t know the plans any buyer for us has and relocating NUFC out of ST James – like Sir John Hall up to the toon moor. Wouldn’t be bad would it?

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  • Phil,Gosforth

    Sep 17, 2008 at 10:22 PM

    Comment #18

    Potentially good news.
    The only thing that puzzles me is why really,REALLY,rich people buy football clubs?
    It can’t be for the profit if you’re worth multi billions.The money you would make each year is not worth bothering with.Less than bank interest for sure.Even if you made £60m profit like Jabba the Hutt has done,it would be almost insignificant.
    It can only be to enhance your public/world image or use the club for further business ventures.(Casino/Hotel on top of SJ Metro?).
    Either way,if there is a bit of transfer cash available and they let whoever is manager manage the team,then I’ll be happy.
    I don’t really wanna do a Chelski /ManCiteh.
    Bit of cash to compete is enough for me.

    Howay the lads

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  • Mag1Pie

    Sep 17, 2008 at 10:23 PM

    Comment #19

    A club without a manager…a management structure that is inexplicable…an owner who wants to sell…Already in a normal world this would sound worrying. Couple this, however, with the world’s economy in meltdown, credit crunch forcing invesment banks and insurers alike to close down this is the worst scenario that NUFC will ever find itself in. The club is being flogged to all comers (or non-comers for that fact) and even the UAE is struggling to see any potential in a club that only 4 years ago was destined for big things…once mooted as the club to finally break the Arsenal-Man U shackle. What a catastrophic fall from grace and the only thing worse about this than the Leeds United scenario is that we ACTUALLY KNOW we are in a vicious cycle of pure turmoil and there is no way out. I have said all along that the Arsenal model is the way to go and even though Ashley says the same he has done totally the opposite.

    There is only one club in the Premier League that has the capability to ride out the storm of a massive recession and that is Arsenal. They are a sustainable business and yes, let me repeat that, I do think they are a business contrary to what certain fans might say. I do not understand why we need a tidal wave of investment to be thrown at us. Look at when Sir Bobby was here. He did not spend 10s of millions of pounds on a single player, he bought good young players and made a team out of them. That is what Arsenal is. I don’t care what anyone says but when an Arsenal player leaves Arsenal they do not achieve the same heights ever again. It was the exact same with Sir Bobby and NUFC…he bought the likes of Bellers, Jenas, Robert etc. and he made a team out of them. They have all left and which one of them have gone on to achieve bigger things? No one…that is why I think that while it may seem the most difficult option, the best way foward is for the Toon supporters to buy out the club..we don’t need large amounts of money to compete – it has been and still is being proved right now…Ashley’s time is up and he comes across as a very strange individual who seem to be residing on a different planet to the rest of us with his valuation of the club. The deadlock he has created leaves on and all bemused to the extreme; On one hand he says he wants to sell the club…on the other he prices out any potential bidders looking to make a move…and to complete the deadlock he crtically pushes away any suitable manager who may have had an inclination towards taking the job in the first place…what a mess…and at what a time during a global crisis. Howay the Toon!

    And Ed…Zabeel Investments are not interested mate…is your article outdated or something…or are you trying to create a mountain out of a ant hill?

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  • Chris

    Sep 17, 2008 at 10:23 PM

    Comment #20

    I have to see that this doesn’t really pass the smell test. All media outlets seem to reporting that Ashley gained no traction but you state that is was reported. Reported by who? This blog gets less credible each day infortunately

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  • stan the man

    Sep 17, 2008 at 10:24 PM

    Comment #21

    This will be a complete turn around if true….

    Ashley and Mr Wise looked very desperate going cap in hand to the arabs and I for one thought they had no chance.

    It could open up and make a new Wealthy ‘Big Four’ of Chelsea, Man City, Man Utd and Newcastle….creating a new super league while the rest of them will make up the Coke Cola championship.

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  • dubsea

    Sep 17, 2008 at 10:24 PM

    Comment #22

    what is the source for this?

    If its true then ashely has done ok for himself. Nice profit there fat man in this time of economic woe!

    Lets just hope the new owners are fanatical football fans with some ambition….and the best interests for the NE.

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  • shearer9

    Sep 17, 2008 at 10:25 PM

    Comment #23

    It wasn’t Zabeel Investments that said they weren’t interested it was Dubai Investments Group.

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  • Nick C

    Sep 17, 2008 at 10:25 PM

    Comment #24

    Ed, where did u hear this??

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  • Josh. Reeve

    Sep 17, 2008 at 10:27 PM

    Comment #25

    Great news if true, but im not gonna jump the gun.

    It seems that to compete now you have to have a transfer budget of over 50m atleast.

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  • Matt

    Sep 17, 2008 at 10:28 PM

    Comment #26

    As long as they get rid of this retarded european club structure I’m happy. It would also help if they’re willing to invest in the team and I’m not talking £60m a year on transfers, just enough to keep us progressing slowly.

    I want to see a long and sustained rise back up the table.

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  • mozza

    Sep 17, 2008 at 10:29 PM

    Comment #27

    hold onn a second, dont want to pi*s on anyones fire but where has this come from, i’ve had enough false dawns to last me a feckin lifetime

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  • Tom_Toon

    Sep 17, 2008 at 10:29 PM

    Comment #28

    Hopefully it isn’t true simply because they want to bring KK back, what a joke that would be; a complete farce.

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  • the black magpie

    Sep 17, 2008 at 10:29 PM

    Comment #29

    i hate all this Sh*t

    i feel numb after the last few weeks- and im reading steve bruce being linked to us- hes geordie he went to Benton- i dont care! hes a relagation manager

    get these arabs in bring back kev or new regime and a continental manager although Juande Ramos gives me pause

    get the deal done by friday, get kev in by sat- we would win on momentum- here s praying

    im so depressed……and everyday i see a magpie in my garden no jokes- what does this mean

    exhausted tired sick and still shouting away the lads!!!!!!!!!!!!!

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  • shearer9

    Sep 17, 2008 at 10:30 PM

    Comment #30

    I don’t think this is true, this site is the only one that is reporting it.

    Think Ed has made a mistake.

    Don’t get too excited people!

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  • Nick C

    Sep 17, 2008 at 10:30 PM

    Comment #31

    Howay Ed man, SOURCES??

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  • HATE PRAWN SANDWICHES

    Sep 17, 2008 at 10:30 PM

    Comment #32

    found this lads on another thread!?!
    is it BULL or not?

    YESSSSSSSSS // Sep 17, 2008 at 21:14

    GERRRRIINNNNN

    “It is reported that Ashley’s representatives have agreed terms with Dubai’s Zabeel Investments, which is owned by Dubai’s ruler Sheikh Mohammed bin Rashid Al-Maktoum and was part of the consortium that tried to buy Liverpool in 2006.”

    http://bleacherreport.com/articles/58428-the-rich-sheikhs-are-back-and-this-time-for-newcastle

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  • shearer9

    Sep 17, 2008 at 10:31 PM

    Comment #33

    For crying out loud Tom_Toon will you please stop slagging Keegan off.

    It’s getting old.

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  • Tom_Toon

    Sep 17, 2008 at 10:33 PM

    Comment #34

    Why the hell would you want Keegan back when a bluddy plethora of very good to world class managers would want to manage under the Sheikh.

    Complete tripe.

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  • KK FOREVER

    Sep 17, 2008 at 10:34 PM

    Comment #35

    mag1pie shut the fck up boreing cnt

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  • Isaac Hunt

    Sep 17, 2008 at 10:34 PM

    Comment #36

    Ed: Put a red top on ‘your’ site.

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  • Lew Davies

    Sep 17, 2008 at 10:35 PM

    Comment #37

    It is being reported that……….

    No its not Ed! Not being reported anywhere.

    Why have you done this?

    If its true, fair enough, but if not you are gonna look foolish.

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  • ObaMartins

    Sep 17, 2008 at 10:35 PM

    Comment #38

    Tom_Toon is obviously a Mackem, a complete fool

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  • Irish John

    Sep 17, 2008 at 10:35 PM

    Comment #39

    Tom toon don’t you like KK at all?

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  • mozza

    Sep 17, 2008 at 10:36 PM

    Comment #40

    good spot hps

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