The Mail Online provided an update on the summer-long saga of Newcastle’s potential takeover, but as has been the case since the prospect of new owners emerged, it provides more questions than answers.
The report claims the Bin Zayed Group (BZG) are in talks with an American hedge fund, which is backed by SoftBank – a Japanese investment giant – to provide funding for the potential takeover of the football club.
It claims BZG have appointed an accountancy firm, as well as lwayers, to progress the deal, but did not reply to the Mail’s request for comment on the latest reports.
It is time they came out and made an official statement, if permitted under possible non-disclosure agreements, and let fans know exactly what the current position is.
Never mind pieced together snippets from a radio host, but a proper press release, admitting if a deal is likely, or not.
It is unfair to fans, who are desperate for good news regarding the potential purchase.
But quite why a group, who stated a deal had been agreed at the asking price set by Mike Ashley, suddenly need a hedge fund to finance a deal, is one of the questions fans need answers to.
Has Sheikh Khaled, overplayed his wealth, and that of BZG?
And a bigger question: If they enlist financing from a hedge fund, where would the repayment installments be paid from, should a deal go through?
How much do Newcastle fans want rid of Mike Ashley?
Whether fans are so desperate to be rid of Ashley that they would accept a buy-out from a group that may use the club as collateral for any financing, remains to be seen.
But, if repayments were to come out of club money, from television deals, Premier League prize money or player sales, fans would have legitimate concerns over the possible deal.
As long as I have supported Newcastle, nothing has ever been simple at St James’ Park. Everything from ownership to player transfers turns out to be a soap opera, and this summer has topped the lot.
It may be that there are still some twists and turns to come, but for everyone’s sake, the takeover speculation needs to come to an end – one way or the other.