Sheikh Khaled says agreed terms for Newcastle takeover sent to Premier League

Sheikh Khaled Bin Zayed Al Nahyan says he has provided proof of funds to Mike Ashley and agreed terms between the two parties have been forwarded to the Premier League over his attempted takeover of Newcastle.

The Bin Zayed Group, of which Sheikh Khaled is chairman, issued a statement on Wednesday which they said aimed to "clarify" timelines surrounding the proposed takeover.

The statement 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.

1:05 Keith Downie explains the situation surrounding Mike Ashley's potential sale of Newcastle to Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan Keith Downie explains the situation surrounding Mike Ashley's potential sale of Newcastle to Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan

"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 Premier League and Newcastle have been asked for comment.

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".

Ashley wants around £350m for the club he bought 12 years ago. Newcastle have been the subject of previous unsuccessful takeover attempts from Amanda Staveley and Peter Kenyon in the last two years.