Newcastle takeover close as Sheikh Khaled  reveals “terms agreed”

Sheikh Khaled Bin Zayed Al Nahyan has revealed that he has agreed to terms to with Newcastle owner and billionaire Mike Ashley to take over the club.

The Dubai-based tycoon is a 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”.

“We can confirm that 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,” read a statement from the Bin Zayed Group.

“We have agreed terms and are working hard to complete the transaction at the earliest opportunity.”

“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.”

Ashley, who bought the Magpies for £134.4million in 2007, has freely admitted he cannot afford to take them to the next level and put the business up for sale for the third time during his tenure in October 2017.