Date: 24th October 2008 at 7:27pm
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Having waited a bit longer to hear any concrete news on the prospective takeover, today saw the first major moves by a consortium to purchase the club from Mike Ashley. Unsurprisingly, on the day the OPEC nations cut oil production, it`s a citizen of an oil producing nation who has been linked with the move.

The Sun reports that businessman Nasser Al-Kharafi is in serious discussions with Ashley and is ready to table a firm offer. The Toon deal will be channelled through an Abu Dhabi company but Al-Kharafi is the man behind it. He is worth £9billion and is listed as the world`s 48th richest man.

He made his money in construction and engineering and was linked with the club last month when a spokesman claimed there was ‘nothing serious going on’. A source close to the family said: ‘Newcastle intrigues them and there`s a real chance they could get the club. It is possible the deal could be done by next week.’