Newcastle United set to be sold to Man City owner's cousin

May 28, 2019 06:00 am

Newcastle United owner Mike Ashley has agreed to sell the club to Abu Dhabi's billionaire Sheikh Khaled Zayed Al Nehayan for £350 million (S$611.3m), The Sun reported yesterday.

The contracts between Ashley and Sheikh Khaled have been signed and submitted to the English Premier League, said the report.

Ashley, who bought a controlling stake in the EPL club in 2007, has in the past tried to sell the club.

The owner of British sportswear retailer Sports Direct said last October that he had not received any acceptable offers, a year after he officially put the club up for sale.

But he told Sky News in December that talks on a deal had made good progress.

Sheikh Khaled is a cousin of Manchester City owner and Arab billionaire Sheikh Mansour Zayed Al Nahyan.