According to The Sun, Newcastle United owner Mike Ashley has agreed to sell the club to Sheikh Khaled bin Zayed Al Nehayan for £350 million.
The Dubai-based billionaire is the cousin of Manchester City owner Sheikh Mansour and he was keen on buying Liverpool last year, but a £2 billion takeover fell through.
Ashley has often indicated that he will sanction a sale of Newcastle for the right price, and it seems a summer takeover is now on the cards as contracts have been signed and submitted to the English Premier League.