Arab Sheikh agrees £350 million deal to buy Newcastle United – report

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The cousin of Manchester City owner Sheikh Mansour has struck an agreement to buy Newcastle United for £350 million, according to reports.

Mike Ashley

The club has been the subject of several failed takeover attempts in the past, including those of Amanda Staveley and Peter Kenyon.

However, the Sun reports that paperwork has been signed and submitted to the Premier League, paving the way for Mike Ashley to hand over the reins at St James’ Park to billionaire Sheikh Khaled bin Zayed Al Nehayan.

Al Nehayan, a cousin of Sheikh Mansour and a senior member of the Abu Dhabi royal family, failed in efforts to buy Liverpool for £2 billion last year.

But he now appears to have got his hands on a Premier League club as Ashley cedes power after 12 years in charge of the Tyneside club.

Ashley has made repeated attempts to sell the club, the first coming in 2008, and is understood to have finally succeeded with the 61-year-old founder of the Bin Zayed Group.

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Alasdair Mackenzie

Alasdair Mackenzie is a freelance journalist based in Rome, and a FourFourTwo contributor since 2015. When not pulling on the FFT shirt, he can be found at Reuters, The Times and the i. An Italophile since growing up on a diet of Football Italia on Channel 4, he now counts himself among thousands of fans sharing a passion for Ross County and Lazio.