Sheikh Khaled Bin Zayed Al Nahyan has moved to clarify the status of his attempted takeover at Newcastle.
A statement issued to Press Association Sport by the Bin Zayed Group, of which he is chairman, on Wednesday said: “In consideration of the numerous speculations in regards to the timelines of the acquisition of Newcastle United Football Club by Bin Zayed Group, we feel the need to issue this statement.
“Terms have been agreed between us and Mike Ashley; these terms have been reflected in a document, signed by both parties, which has been forwarded to the Premier League.
“The proof of funds statement was forwarded to Mike Ashley’s lawyers on April 17 2019.
“The so called fit-and-proper Premier League process is a standard procedure which will take time, and we are doing all we can to assist the Premier League during this process.
“We feel the need to clarify this point in order for the fans and the general public to understand the timelines.”
The Bin Zayed Group claimed on Monday that Sheikh Khaled had “agreed terms” to buy out current owner Ashley and was attempting to “complete the transaction at the earliest opportunity”.
As Newcastle fans celebrated, speculation mounted over Sheikh Khaled’s ability to push through a deal with previous bids led by Amanda Staveley and Peter Kenyon having ultimately come to nothing.
It is understood the Dubai-based businessman’s representatives are one of a series of interested parties currently in talks with Ashley, who bought the club for £134.4million in 2007.