Newcastle United owner Mike Ashley has reportedly agreed to sell the club for £350million to the cousin of Manchester City owner Sheikh Mansour.
The Sun claim Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan is set to take over at St James’ Park.
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Mike Ashley is reportedly close to selling Newcastle to a billionaire owner
Sheikh Khaled, 61, is a senior member of the Abu Dhabi royal family and last year failed with an attempted £2billion takeover of Liverpool.
He is said to be a lover of football with a keen interest in the Premier League, and looks set to join the list of mega-rich owners in the English top flight.
The reports claim contracts over the £350m sale have been signed by Ashley and the Sheikh and have been submitted to the Premier League.
Newcastle have not made an official comment, but The Chronicle report senior club sources have confirmed Sheikh Khaled’s interest and say talks have taken place.
However, they add there is ‘some way’ to go for the takeover to go through.
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Of course, Newcastle have been here before with Ashley. Newcastle have been close to takeover attempts in the past from Amanda Staveley and Peter Kenyon, but ultimately they proved unsuccessful.
But it appears the Sports Direct boss – widely hated by the Toon Army, who have continuously campaign for him to leave their beloved club – has now decided to end his 12 year reign in charge at St James’ Park.
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Newcastle’s prospective new owner Sheikh Khaled bin Zayed Al Nehayan is the cousin of Man City chief Sheikh Mansour
It is claimed the Sheikh will look to tie down manager Rafa Benitez’s future and provide the Spaniard funds to strengthen his squad when his takeover is complete.
Loyal supporters will be hoping the billionaire’s arrival will help to usher in a new era of success at St James’ Park, having not won a major trophy since 1969.
Who is Sheikh Khaled?
He is founder of the Bin Zayed Group – a leading group of businesses with diverse interests in the local and international markets.
The Bin Zayed Group’s key activities comprise four business fields: construction and energy, trading and industry, real estate, technology and financial services.
The 61-year-old is president of the UAE Sailing and Rowing Federation, and has always had a keen interest in football and loves the Premier League.
He is the cousin of Manchester City owner Sheikh Mansour.
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