Who is the man buying Newcastle United?
Written by: Rohan Philip
The Consortium was seriously in talks to buy Liverpool FC.
In September of 2008, English football was changed forever when Sheik Mansour of the Emirati royal family bought over the majority stake in the struggling Manchester City. Eleven highly successful years down the line, Newcastle United seem to be the next club that is about to be taken over by a Sheik.
Sheik Khaled bin Zayed Al Nehayan has made inquiries into the availability of the Tyneside club that is currently under the highly controversial ownership of Mike Ashley. But who is the man behind the money that is giving fans of the Magpies all over the world, hope?
The 61-year-old Sheik is one of Dubai’s most successful entrepreneurs, with his net worth through his business empire, the Bin Zayed Group, growing upwards of a billion US dollars.
In his early years, the Sheik graduated with a degree in business management from Boston University which he followed up with a PHD in finance from Michigan State University. It was this business acumen that allowed him to grow his business as well as become the President of the UAE Sailing and Rowing Federation.
This is not the first time that the billionaire has attempted to get a foothold in the Premier League. In 2017, he attempted a £2 billion takeover of Liverpool FC which, if it had materialized would have been the most expensive buyout in the history of the game.
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However, this was rejected by Liverpool owners, FSG. The Press Association reported that the offer was turned down as it was seen as neither credible nor worthy of being put to the owners for consideration. The Sheik, however, may see his dream of owning a Premier League club come to fruition in the very near future.
The Sheik has always maintained a keen interest in football and the Premier League in particular as per reports. The deal will be carried out with the money he has amassed through the Bin Zayed Group that spans over a variety of fields, ranging from construction to financial services. The company contributes to the total net worth of the Abu Dhabi Royals that is roughly estimated to be around £118 billion.
Newcastle United have operated on very limited funds after the club was put up for sale in 2017 by Mike Ashley. The fact that they have stayed up in the Premier League despite having very few players through the door of St. James’ Park is a testament to the work that Rafa Benitez has done at the helm of the club.
Sheik Khaled’s first course of action will be to tie down Benitez at the club following which he will look to provide the necessary funds to bolster the squad. Fans of the club will be hoping that the deal will go through this time, having been disappointed in the past as they have seen deals with businesswoman, Amanda Stavely and Peter Kenyon fall through. With the influx of cash, Newcastle United may be the next big thing in the English game. Only time will tell.
Published: Fri May 31, 2019 07:25 PM IST