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Sheikh Khaled bin Zayed Al Nahyan, a member of the ruling family of the United Arab Emirates, has announced that he is in talks to buy the English Premier League club Newcastle United, becoming the last investor in the Gulf to show his interest in European football.
Newcastle was put on sale by its owner Mike Ashley, the British retail mogul, two years ago and was the subject of several offers from several parties during this period without success. The founder of Sports Direct was looking for an agreement that would value the club up to 300 million pounds, according to people close to previous discussions on the club's purchase.
On Tuesday, however, the question of whether Mr Ashley had accepted Sheikh Khaled's approach or the end of the market was still uncertain.
Sheikh Khaled is chairman of Bin Zayed Group, a Dubai-based conglomerate with interests in the construction, energy and real estate sectors.
This week, Midhat Kidwai, General Manager of Bin Zayed Group, issued a statement in which he "confirmed" that Sheikh Khaled's representatives "were discussing with Mike Ashley and his team about the acquisition project of the club of Newcastle United football.
"We consider it an honor to have the opportunity to build on the support, history and tradition of the club. We have agreed terms and are working hard to complete the transaction as soon as possible. "
Newcastle United, representatives of Mr Ashley and the Premier League declined to comment.
The Premier League, which must exercise due diligence in any transaction involving a change of control in any of its member clubs, has not received any documentation of a takeover, according to a person informed of the situation.
A person close to Bin Zayed Group management has denied that this is the case. Proof of funds and audited financial statements over three years had been sent to the English football authorities.
People close to other parties seeking to acquire Newcastle, including various investor groups led by financier Amanda Staveley and former CEO of Chelsea and Peter Kenyon, have expressed confidence that Mr. Ashley's sales process continued and that their offers also remained under consideration.
Sheikh Khaled made an offer for Liverpool FC last year, but no agreement has come to fruition.
Some financiers in Dubai have raised questions about the offer of Newcastle United due to past financial problems within the Bin Zayed group. A person close to the company said that she had since postponed a financial restructuring and was considering investing in the club.
"The fans will not be disappointed," said the person. "But we will have to manage expectations – we are not talking about Man City here."
If an agreement is reached, Sheikh Khaled will become the last owner of European football in the Middle East. He would follow his distant cousin Sheikh Mansour bin Zayed Al Nahyan, the billionaire businessman and member of the Royal Family of Abu Dhabi, who acquired Manchester City in 2008.
Abu Dhabi has invested more than a billion pounds in the Manchester club, placing it at the top of English football, winning an unprecedented tripling of national trophies this season.
In 2011, Qatar Sports Investments acquired the French Paris Saint-Germain, the group wanting to hold new participations in the football sector, including discussions on a stake in Leeds United, a club in the division below the Premier League.
Egyptian billionaire Nbadef Sawiris and US businessman Wes Edens acquired last year a majority stake in Aston Villa, a Birmingham club promoted since then to the ranks of the Premier League.
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