Newcastle United owner Mike Ashley has reportedly agreed to sell club. The deal with a Saudi Royal family member Sheikh Khaled bin Zayed Al Nehayan is reportedly closed for £350 million.
Ashley has put the club on sale for two years. New owner of the club Sheikh Khaled, cousin of Manchester City owner Sheik Mansour, has also made an unsuccessful attempt to buy Liverpool for €2 billion.
British publication The Sun has reported that contracts have been signed between Ashley and Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan.
Newcastle had been subject to previous but unsuccessful takeover attempts from the likes of Amanda Staveley and Peter Kenyon. Ashley first put the club up for sale in 2008 after Kevin Keegan walked away after a bust-up about transfers – which was the first of three times he tried to get rid of the club.
Ashley has now decided to end his 12 years in control on Tyneside.
Shaikh Khaled, 61, is president of the UAE Sailing and Rowing Federation but has always had a keen interest in football and loves the Premier League.
He is founder of the Bin Zayed Group – a leading group of businesses with diverse interests in the local and international markets.