Mike Ashley Agrees to Sell Newcastle United to Man City Owner’s Cousin

Image source: Richard Humphrey  – geograph.rog.uk

Mike Ashley is on the verge of selling Newcastle United to an Arab owner in the coming weeks; check out Newcastle United Premier League outright betting odds.

Will Newcastle united become the next Man City under the new ownership?

Following intense media speculation, it has been confirmed that Newcastle United will be taken over by Dubai-based billionaire Sheikh Khaled bin Zayed Al Nahyan (the cousin of Man City owner Mansour bin Zayed Al Nahyan)through his investment vehicle Bin Zayed Group.

Mike Ashley took over the club in the summer of 2007 for a fee believed to be around £134m, so 12 years on we’d anticipate the club to fetch a price double that figure, considering the current Premier League commercial and TV revenues. According to online sportsbooks news, Ashley is believed to want at least £350m for the St. James Park side.

Midhat Kidwai – managing director of the Bin Zayed Group – released an official statement on Monday afternoon that all the relevant parties have ‘agree terms’ to the deal.

“In response to numerous reports in the world media this morning, we would like to comment as follows,” the statement issued by Kidwai read.

“We can confirm the representatives of this Highness Sheikh Khaled bin Zayed Al Nahyan are in discussions with Mike Ashley and his team about the proposed acquisition of Newcastle United Football Club.”

“We view it as an honour to have the opportunity to build on the strong support, history and tradition of the club. We have agreed terms and are working hard to complete the transaction at the earliest opportunity.”

This is not the first time that Sheikh Khaled has attempted to takeover a club; last year he tabled a £2bn bid to buy Liverpool from the John Henry’s Fenway Sports Group, but the offer was rejected. This time around it seems the Dubai native will have more luck in acquiring a stake in a football club.

Back the Magpies with Newcastle United Premier League outright betting odds

Newcastle finished 13th in the 2018/19 Premier League, having collected 45 points in the process under former Liverpool manager Rafael Benitez. With the takeover deal looming, the question now on the minds of all the supporters is will the club become a football superpower that could see them win major silverware, or will Sheikh Khaled be a reserved investor in the club that will have no effect on their on-field performances?

If he’ll be anything like his cousin at the Etihad, the Magpies could be set to enjoy Champions League football and contention for the Premier League title in the coming years.

If the deal goes through smoothly and Sheikh Khaled makes marquee signings throughout the summer, it would give the squad enough time to have a pretty solid pre-season, and thus allow them to compete for the top positions in the Premier League.

Currently, Newcastle United’s chances of finishing in the top 6 next season 16/1 (17.00) are limited, but those odds with online sportsbooks in UK could still improve later on. A top half finish 5/4 (2.25) is far more likely, while being one of the most outbreak teams 10/3 (4.33) in the Premier League is also a nice betting option to consider.

(Check out Bet365 Sportsbook review for more info about the online betting site and great Newcastle United Premier League outright betting odds.)