Keith Downie with Sky Sports has followed up on his understanding of the current state of the Bin Zayed Group’s attempted takeover of Newcastle.
This is what Keith has written about why there has been no breakthrough on the deal:
What I will say, though, is that I have serious reservations about the proposed Bin Zayed group takeover.
It’s my understanding that, despite their claims, they have still not submitted proof of funds.
They say they have submitted all of the paperwork, but that’s not what I’m hearing.
The word I’m getting from a number of sources is that they don’t have the money to buy the club.
I do think their interest is genuine and there have been talks, but I think the reality is that they don’t have the funds to complete the takeover.
It was Keith Downie who questioned Peter Redding’s statement from BZG earlier this week. He called into question not only Peter’s credibility but also that of BZG.
Yesterday, Sun reporter Justin Allen stood by his reporting from May 26th when he broke the deal.
He has always maintained that the deal was nearing completion and thus refutes what Keith Downie is reporting.
Here is a tweet from June 3 in which Allen furthers his claims of a deal being practically complete.
Mike Ashley has agreed to sell the club for.£350m to the Bin Zayed Group. FACT. Contracts have been signed. FACT. That paperwork is with the Premier League. FACT.
I also refer you to two public on-the-record statements since I broke the story from the group.
— Justin Allen (@justinallen1976) June 3, 2019
We just don’t know who is correct at this point until more information comes to light. What we do know at this point is that Mike Ashley is still doing damage to our club.
It will be interesting to see what kind of a contract Steve Bruce will be on if he is announced as expected.
If he is on a one-year rolling contract like the one he is on now with Sheffield Wednesday, then there may still be hope.
However, if he is given a three to four-year deal then it’s not looking good.
We half expect him to be given the Alan Pardew special, to be honest.