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BZG Deal On Ice As Group Seek Debt Financing To Fund Deal


The Daily Mail is reporting that BZG is seeking debt financing to fund a deal to takeover Newcastle United.

However as we have suspected since the group used Peter Redding to issue a statement on the deal’s progress, the takeover is basically at a standstill.

The reason for this roadblock seems to be due to the finances of the Bin Zayed Group.

This is what Ben Harrington is reporting about the deal being on hold for the moment.

Sources close to the situation said talks between Bin Zayed and Ashley’s representatives had been put on ice.

But Bin Zayed is thought to have appointed accountants from KPMG and lawyers from Pinsent Masons to work on a deal.

This would explain BZG’s connection to Pinsent Masons when they set up the holding company Monochrome Acquisitions Ltd.

It also lends credence to the reporting of Keith Downie who said the following last week:

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 looks as if the Bin Zayed Group are still trying their best to takeover Newcastle United. However, the reports of them not having the funds may be closer to the truth than the reports coming from their camp.

This is what Ben Harrington writes about BZG’s attempts at seeking financing for a takeover of Newcastle.

An American hedge fund backed by Japanese investment giant SoftBank has been holding talks with the Dubai-based Bin Zayed Group which is interested in buying Newcastle United Football Club for between £300 million and £350 million.

It is believed Fortress Investment Group is one of a number of parties talking to Bin Zayed about providing expensive debt financing for a takeover of the Premier League club, owned by retail tycoon Mike Ashley.

What all this means is that there is still hope of a Bin Zayed Group takeover. However, this doesn’t appear as rosy as reports in May suggested.

We now have our doubts about this group and the reports of them as time-wasters is looking to be somewhat accurate. While their intentions may be good, we are uncertain of their capability to buy Newcastle United.

Though if BZG are able to go through with the takeover by securing investment, we would certainly be willing to give it a go under them over Mike Ashley.

While they may end up being less than optimal owners, that is still an uncertainty. While Mike Ashley is certainly a terrible owner.


15 comments so far

  • toon22

    Jul 21, 2019 at 1:12 AM

    Comment #1

    Who would have guessed this years contestants didnt win
    Its like an episode of Takeshi’s Castle

    Nobody will ever win with

    14
  • toon22

    Jul 21, 2019 at 1:13 AM

    Comment #2

    Who do you think he will pretend to sell us to next time ?

    6
  • NY Mag

    Jul 21, 2019 at 1:14 AM

    Comment #3

    Mr T,

    Is that true re: mozzies?
    (I had no idea)

    They’re out in force here (because of the humidity)

    0
  • toon22

    Jul 21, 2019 at 1:15 AM

    Comment #4

    Its over

    2
  • toon22

    Jul 21, 2019 at 1:18 AM

    Comment #5

    We have had enough

    2
  • IrishRob

    Jul 21, 2019 at 1:20 AM

    Comment #6

    Why is this? Ooh because they dont have the money. I remember I was mocked for saying this a few weeks back. Phahahaha!!

    5
  • NY Mag

    Jul 21, 2019 at 1:23 AM

    Comment #7

    Rob,

    It’s the Sunday papers…so you have to take it with at least a little pinch of salt.
    However, if it’s true – they are at least persistent.

    2
  • Mister Tuff

    Jul 21, 2019 at 1:27 AM

    Comment #8

    NY – indeed it is true – apparently the female needs blood in order to produce eggs.
    In Northumberland we have a lot of trouble with the Scottish midge where there is woodlands/forests/water bodies.
    Worst place is Kielder – famous for being Europes largest (was) man made reservoir and also Europes largest man made forest (mostly conifers). Scenery wise -spectacular.
    The males hatch before the females, so not many problems, when the females hatch it is hell. Not one or two but with formations of millions, so thick they nearly obscure views. They get in your hair biting your scalp, in your lugs biting away. Terrible beasties.

    2
  • Mister Tuff

    Jul 21, 2019 at 1:33 AM

    Comment #9

    Irishrob – not racism towards the Irish mate.
    What is your understanding of what racism is – what definition of it do you base your assessment.

    To my mind correctly stating someones nationality ONLY with a particular employment ONLY is not racism.

    For arguments sake presume NY is a builder. If i mentioned ” an American builder” how would that be racist.

    8
  • IrishRob

    Jul 21, 2019 at 1:36 AM

    Comment #10

    Of course its true for whatever reason they don’t have the money common sense and good deduction skills should tell people they hadn’t got the money and reading between the lines too. It was never about Ashley for me, fúk him hes a cúnt, but the fact of the matter is, if BZG had the money we would probably be sold by now, I dont think Ashley is as desperate to keep Newcastle as people think.

    There should have been a huge warning flag from thr start considering they couldn’t prove they had thr funds last year to buy liverpool, even if liverpool weren’t keen on selling, BZG still couldn’t prove they had the funds that time either.

    3
  • IrishRob

    Jul 21, 2019 at 1:38 AM

    Comment #11

    When you talk about Irish people with distain and vitriol instead of talking about the person then there is obviously some underlying mild racism there at worst.

    Dont want to fall out, I’m just telling you I found it offensive.

    7
  • The Wife

    Jul 21, 2019 at 1:41 AM

    Comment #12

    Hello, everyone! Apologies for the delay in getting the latest Newcastle United news up on the blog…Neil and I went out to see a movie this evening. 🙂

    Many, many thanks to all of you that read the articles and post your thoughts. These are trying times, to be sure.

    33
  • Mister Tuff

    Jul 21, 2019 at 1:54 AM

    Comment #13

    IrishRob – if you went further back into the posts on here – you would find that I have defended the Irish of here many many times against a particular poster who remarked disgustingly about Irish people getting paid for particular acts they “performed” down on the Quayside. His monicker begins with J.

    2
  • onmeedsun

    Jul 21, 2019 at 10:58 AM

    Comment #14

    We do not want anyone buying NUFC via taking on large debt. We are not Manure with their global revenue stream. The interest charges would make it impossible to compete. I hate Ashley but at least we don’t pay any interest/dividends on his debt/investment. No point anyone coming in if they can’t afford a pot to piss in.

    2
  • davis_toons

    Jul 21, 2019 at 7:05 PM

    Comment #15

    If that’s truly the case ..then jolly well we will have to stuck with Ashley for the better or worst while waiting for another better fakeover.

    0

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