Abu-Dhabi Billionaire Agrees To Buy Newcastle United

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Dubai-based tycoon Sheikh Khaled Bin Zayed Al Nahyan has revealed his plans to complete a takeover at Newcastle after agreeing terms with Mike Ashley

The Abu Dhabi Billionaire and Cousin of Manchester City owner, Sheik Mansour and a member of the Abu Dhabi royal family, insists he has "agreed terms" and is now attempting to "complete the transaction at the earliest opportunity".

A statement released by the Bin Zayed Group, of which Sheikh Khaled is chairman, said " We can confirm that representatives of His Highness Sheikh Khaled Bin Zayed All 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 "

Although, Newcastle has not officially comment as at Monday, but source on Tyneside indicated that Sheikh Khaled has expressed an interest, but that there was still a distance to go before a deal could be finalised.

The British Media reports have revealed the sale price could be around 350 Million pounds.

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