The Daily Express is reporting today that Mike Ashley was in talks last night with Zabeel Investments chairman Mohammed Ali Al Hashimi.
Mohammed Ali Al Hashimi – leading the talks with Newcastle
This is in conflict with a report in the Newcastle Journal this morning that said Mike pulled out of the meeting, which we found hard to believe.
It appears that Ashley is officially asking £481M for the club, but surely anything north of £270M would indeed be a very good deal for Ashley.
If he got £270M, that would be a clear profit of close to £30M, after just 16 months, so that’s not too bad.
There’s also news another Dubai Investment Group are interested, but they are not named.
Both groups are said to be willing to pay £300M for the club, but if that is correct, we’re sure a deal would be struck very quickly, so that amount has to be in some doubt.
£300M would give Mike a full 25% gain on his investment in just 16 months – a really good deal. He paid about £240M for the club, and will make £60M pure profit on £300M.
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.
And there is some news too, that Zabeel Chairman Mohammed Ali Al Hashimi, who has led the takeover talks with Mike Ashley and his team this week, will appoint Kevin Keegan as his new manager.
That wouldn’t surprise us at all, if indeed a Middle East Consortium eventually buys Newcastle.
What better way to immediately get the fans support, not to mention the team being stabilized, almost overnight, because it’s clear the players would also be delighted.
We hope that happens, that’s for sure.