Newcastle United in talks to sell club to billionaire Sheikh Khaled

Newcastle owner Mike Ashley (on the right) seeks to find the club a new owner

Reports suggest that Newcastle United owner Mike Ashley is in talks to sell the club to Sheikh Khaled bin Zayed Al Nahyan.

The United Arab Emirates billionaire’s investment group has confirmed this to news reporters.

Last year, Sheikh Khaled failed with a 2 billion pound (913 Billion naira) takeover of Liverpool.

The cousin of Manchester City owner Sheikh Mansour has been reported to be in the deal for Newcastle which is worth 350 million pounds (159 Billion naira)

The Bin Zayed Group said it has agreed terms and hopes to complete the deal “at the earliest opportunity”.

Walsall-born Sports Direct owner Ashley, who bought the club in 2007, put it up for sale in October 2017.

Newcastle finished 13th in the Premier League this season under manager Rafael Benitez, whose contract expires on 30 June.
Some supporters have regularly protested about the way owner Mike Ashley has run the club. He has also been criticized for a lack of investment in the transfer market.

He bought Newcastle for 134.4 million pounds (61 billion naira) in 2007 and the club has been relegated twice from the Premier League during his tenure.

In December, Ashley said he was “hopeful” the club will be sold to “an owner that will please everybody”.