Sheikh Khalid bin Zayed Al Nahyan of UAE is negotiating with Mike Ashley to buy Newcastle United for £350 million.
The representatives of Dubai based Sheikh Khaled have confirmed that “terms have been agreed”, moving a step closer to buy the Premier league club.
A statement issued from Sheikh Khaled group said that they are working hard to complete the transaction and Sheikh Khaled is looking forward to build on the history and tradition of the club.
Recently Newcastle owner Mile Ashley has faced a series of protests from the club supporters at lack of investment in players.If Sheikh Khaled does pay £350 million for Newcastle, it will be the second highest take over after Manchester United take over of £790 million.
Sheikh Khaled, cousin to Manchester City owner Sheikh Mansour, is a big fan of English Premier league.