Yesterday seemed to be a very good day for Newcastle fans as we heard that Sheikh Khaled bin Zayed al-Nahyan and his Bin Zayed Group has set up a holding company which they called Monochrome Acquisitions Ltd.
Holding companies are set up to help facilitate an acquisition.
Mash Holding was the group Mike Ashley set up when he bought Newcastle just over 12 years ago.
The two directors named to the Monochrome Acquisitions company were Sheikh Khaled bin Zayed al-Nahyan himself and his Managing Director of the Bin Zayed Group Mihat Kidwai.
So a takeover is happening, but we don’t know the timeframe but if it’s 10 to 15 days the Premier League take to OK all documents and approve Sheikh Khaled as a fit and proper owner – it could be soon.
As usual, the Newcastle club and Mike Ashley issued a firm “no comment” to the news that lit up the Internet around 5:00 pm yesterday.
Mike Ashley and Sheikh Khaled
That’s according to the Express today after they had actually asked the club for a statement on the news.
Newcastle have yet to make any comment at all on the takeover which is taking place right now, and in fact, Mike Ashley hasn’t made a comment since the end of the season back on May 12th, when we hammered Fulham 4-0.
As a timely reminder, the following are the two statements issued on the takeover by the Bin Zayed Group last week.
This was issued on Monday, May 27th from Bin Zayed Group’s Managing Director Midhat Kidwai:
“In consideration of the numerous speculations in regards to the timelines of the acquisition of Newcastle United Football Club by Bin Zayed Group, we feel the need to issue this statement.”
“Terms have been agreed between us and Mike Ashley; these terms have been reflected in a document, signed by both parties, which has been forwarded to the Premier League.”
“The proof of funds statement was forwarded to Mike Ashley’s lawyers on 17 April 2019.”
“The so-called fit-and-proper Premier League process is a standard procedure which will take time, and we are doing all we can to assist the Premier League during this process.”
“We feel the need to clarify this point in order for the fans and the general public to understand the timelines.”
And here’s the second statement issued on Wednesday 29th May, again by Midhat Kidwai::
“We can confirm the representatives of his Highness Sheikh Khaled Bin Zayed Al Nahyan are in discussions with Mike Ashley and his team about the proposed acquisition of Newcastle United Football Club.
“We view it as an honour to have the opportunity to build on the strong support, history and tradition of the club.
“We have agreed terms and are working hard to complete the transaction at the earliest opportunity.”
That’s where we stand today, and it’s difficult for anybody to say the takeover is not happening.
Yes – it could still fail, but every day that goes by that becomes less and less likely.