Dubai developers in talks to buy out Ashley from Newcastle
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Dubai developers in talks to buy out Ashley from Newcastle hell
A consortium linked to Dubai Sports City last night emerged as the front-runners to take over Newcastle.
The club's owner Mike Ashley is in Dubai with Dennis Wise and Tony Jimenez, trying to attract buyers and Sportsmail understands they are in talks with DSC, the world's first purpose-built sports city.
Dubai Sports City is a £4billion development and its backers certainly have the finance to buy out Ashley, who publicly admitted his desire to sell for the first time on Sunday.
The group are interested in adding a Premier League team to their portfolio.
However, negotiations are at an early stage and Ashley has also been in contact with a Chinese consortium.
Ashley bought the club for £133mllion 16 months ago and has spent around £100million clearing debts.
A Middle East business website yesterday claimed he was in talks with two investment groups linked to Dubai ruler Sheik Mohammed bin Rashid al-Maktoum.
Zabeel Investments, owned by the sheik, were said to have been offered the club for £480m, but his representatives denied the report..