Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan and cousin of Manchester City’s Arab owner Sheikh Mansour says he has “agreed on terms” with Mike Ashley to buy Newcastle.
The Bin Zayed group – the holding company of the tycoon – released a statement to confirm they were in detailed talks with the Sports Direct owner.
And they pledged to “build on the strong support, history and tradition” of the Tyneside club.
— Ahdaaf (@Ahdaaf_ME) May 27, 2019
“In response to numerous reports in the world media this morning, we would like to comment as follows,” the statement read.
“We can confirm the representatives of his Highness Sheikh Khaled Bin Zayed Al Nahyan are in discussions with Mike Ashley and his team about the proposed acquisition of Newcastle United Football Club.
“We view it as an honour to have the opportunity to build on the strong support, history and tradition of the club.
“We have agreed terms and are working hard to complete the transaction at the earliest opportunity.”
Newcastle have confirmed to Sky Sports News that the statement is genuine, but have not released one of their own.
Sheikh Khaled is a senior member of the Abu Dhabi royal family. Last year he failed in a £2bn takeover of Liverpool.
Ashley wants around £350m for the club he bought 12 years ago.