Mike Ashley has agreed to sell Newcastle United to Abu Dhabi’s billionaire "Sheikh Khaled bin Zayed Al Nehayan" cousin of Manchester City owner "Sheik Mansour" for 350 million pounds ($445.24 million).
The contracts between Ashley and Sheikh Khaled have been signed and submitted to the Premier League, according to the report.
Ashley stressed that "last October the had not received any acceptable offers for Newcastle, a year after he officially put the club up for sale, but told Sky News in December that talks on a deal had made promising progress.
"Any potential buyer of the club must be able to provide transfer funds, he had said at the time.
Sheik Khaled bin Zayed Al Nehayan who is a member of the ruling family of Abu Dhabi and cousin brother to Manchester City owner Sheik Mansour is believed to be a billionaire and has interests in the construction, energy and real estate sectors among others.
Both Sheik Khaled and City owner Sheik Mansour are sons of the late Sheik Zayed bin Sultan Al Nehayan, President of the UAE and ruler of Abu Dhabi. Khaled is the youngest of 19 sons.
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