According to The Chronicle, there is no bid from the Bin Zayed Group for Newcastle United on the table at the moment, and the revelation is one that will leave many fans devastated.

There have been earlier reports that a £350 million takeover was on the cards, with Newcastle owner Mike Ashley ready to sell the club to Sheikh Khaled bin Zayed Al Nehayan, but the latest claims from the Chronicle will frighten Magpies’ fans who have eagerly looked forward to the current owner’s departure this summer.

Nevertheless, the BZG have announced this morning via Dubai-based journalist Peter Redding that a bid is on the table, and that an official statement is incoming.

Contrary to some media outlets reporting there is no bid on the table, BZG have stated this is "simply not true".

— Peter Redding-Capital Radio UAE (@dubai_geordie) July 5, 2019

Also pushed them on statement – "Incoming" was all I was told. For the sake of all fans the two parties need to finalise this and communicate.

— Peter Redding-Capital Radio UAE (@dubai_geordie) July 5, 2019

Newcastle are yet to make any official comment since the news of a potential takeover emerged, and have only gone about their business as usual, letting go of manager Rafa Benitez after both parties couldn’t agree on a new deal and also announcing the new kit for next season.

Pre-season preparations ahead of the Premier League Asia Trophy in China resumed at the club’s training grounds yesterday, and the search for a new manager is underway.