A major investment group in the booming Gulf emirate of Dubai on Wednesday denied it was in talks about a takeover of the troubled English Premier League club Newcastle.
"Following incorrect media speculation about Newcastle Football Club, Dubai Investment Group can confirm that it is not involved in any negotiations to buy Newcastle Football Club, nor does it plan to do so in the future," the company said in a statement.Dubai Investment Group, part of government conglomerate Dubai Holding, did not give further details.
The group is one of two Dubai government-backed companies, along with Zabeel Investments, that have been mentioned as possible buyers of the club from owner Mike Ashley, who announced Sunday he wanted to sell.
The self-made billionaire has become a hate figure with many of the north-east side's supporters, who blame him for the resignation of popular manager Kevin Keegan.
Reports that Dubai investors were looking into buying Newcastle come two weeks after a company based in the oil-rich emirate of Abu Dhabi took over Manchester City, another English Premier side.
Abu Dhabi and Dubai are both part of the United Arab Emirates.
Newcastle crashed to their second defeat of the season last weekend when under caretaker manager Chris Hughton they were beaten 2-1 at home by Hull.