THE Bin Zayed Group claim in a new statement that they provided “proof of funds” to buy Newcastle United in mid-April.

Sheikh Khaled is known to be in talks with Mike Ashley over the purchase of the Magpies and insisted earlier this week that terms had been agreed on a £350m deal.

There have since been claims and counter claims all week, mainly off the record, and there have been sceptics doubting when and if the takeover will take place.

Sources at Newcastle have claimed there has not been an official bid, although they do admit that the discussions between the two are genuine.

Now Bin Zayed Group's managing director Midhat Kidwai has delivered a fresh statement.

He 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 17 April 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."

Newcastle manager Rafa Benitez is waiting to hear what the future holds at St James’ Park and there have been suggestions that a deal will not be in place before his contract is due to expire on June 30.