The takeover of Newcastle United is nearing completion after the Bin Zayed Group confirmed an agreement has been reached for the sale of the Premier League club.
Reports of the Dubai-based billionaire’s interest in Newcastle emerged Sunday night, with rumours suggesting Sheikh Khaled Bin Zayed Al Nahyan, the relative of Manchester City owner Sheikh Mansour, had tabled a bid of £350 million ($444m) to take the club off current owner Mike Ashley’s hands.
Those reports of takeover talks have now been confirmed as managing director of the group, Midhat Kidwai, said in a statement they are working closely with Ashley “to complete the transaction at the earliest opportunity”.