In a lengthy Twitter thread, talkSPORT’s Middle East correspondent Ben Jacobs has said that the Bin Zayed Group could release an updated statement on the Newcastle takeover by end of play on Thursday.
In an initial ‘state of play’ tweet, Dubai-based Jacobs said that verbal terms on the takeover had been agreed and that the price of the club is £350million.
However, he said there had been no official bid, proof of funds or notification to the Premier League.
He said the BZG said “headway will be made by Friday to address above”.
In a follow-up he said this would come in the form of a statement, with indication this would be from their financial director.
He said that Friday is the start of the weekend in the UAE “So I would be surprised if BZG put out a statement from Dubai on Friday. It would either be Thursday night, from Newcastle… or not at all.”
#NUFC takeover latest ??
Verbal terms agreed ?
Price: 350m?
Official bid:?
Proof of funds ?
Premier League formally notified ?
BZG say headway will be made by Friday to address above. #NUFC skeptical, but still open to be pleasantly surprised. Deal not off, but far off.— Ben Jacobs (@JacobsBen) May 29, 2019
That's just what BZG say. They will apparently release an updated statement with some suggestion this will come from their financial director. I have no further info. than that on what it will say. But they are calling Friday a significant day. We shall see.
— Ben Jacobs (@JacobsBen) May 29, 2019
Nope! Fear not. A number of people within BZG are promising a second update some time this week. Like I say, there is no indication of what it will actually say. It's a wait and see on that one. All I would say is Friday is the weekend in the UAE…
— Ben Jacobs (@JacobsBen) May 29, 2019
So I would be surprised if BZG put out a statement from Dubai on Friday. It would either be Thursday night, from Newcastle… or not at all
— Ben Jacobs (@JacobsBen) May 29, 2019
OPINION
There’s been so much vague news about the takeover being written that it’s good to finally get a day to look forward to. That could be as soon as tomorrow if Jacobs is right, Friday at the latest. There are issues that the BZG need to address now that all the information has gone public, and they need to start with proof of funds. That should obviously be communicated to Newcastle first and if a BZG public statement is made we’d expect it to be more pessimistic – along the lines of ‘we’re looking for other investors to come on board’. That obviously wouldn’t be good for Newcastle but either way some clarification is exactly what’s needed at this point in time. Cautiously optimistic are the two words we keep hearing from people that are connected to the club and solid journalists. Newcastle fans will be fearing the worst though. They’ve been here before.