Bin Laden family in bid for Magpies (From The Northern Echo)

Bin Laden family in bid for Magpies

8:19am Monday 7th July 2008 in

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REPORTS yesterday claimed that a wealthy construction company run by the family of Osama bin Laden wants to buy Newcastle United.

The Saudi Binladen Group (SBG), whose chief executive is Osama's half-brother, Bakr bin Laden, and was founded by their father, Sheikh Mohammed bin Laden, is reputedly preparing to make a £300m-plus deal to buy United.

The Mail on Sunday made the astonishing claim at a time when there is increased speculation that the owner of the club, Mike Ashley, is willing to sell, only a year into his role.

Club officials maintain that Mr Ashley is not looking to cash in, but yesterday's shock development is a further indication that there is a feeling that is no longer the case.

It was even suggested that SBG is examining the longer term, with a view to carrying out a lucrative redevelopment of St James' Park and the land surrounding the ground.

The Bin Laden family publicly distanced itself from the founder of Al-Qaeda a long time before he claimed responsibility for the September 11, 2001 attacks on the Twin Towers.

But, with nine Premier League clubs already in foreign ownership, such a move would be the most controversial takeover so far.

The news of SBG's interest in buying the Tyneside club emerged less than 48 hours after a club statement, issued on behalf of managing director Derek Llambias, described reports that Ashley was willing to sell as "absolute nonsense". The club last night repeated that stance following the latest speculation.

It was claimed on Friday that US private investment company, InterMedia Partners, had been quoted £420m for the club.

In a further twist, however, the New York-based firm confirmed reports that they had been approached by a third party about its purchase.

In a statement, InterMedia said: "The company was approached about a deal. It made no offer and has no interest."

SBG made no comment yesterday.