Takeover bid at Newcastle United is on, Latest Football News - The New Paper

Takeover bid at Newcastle United is on

Sheikh Khaled Zayed Al Nahyan, a member of Abu Dhabi's ruling family, said he had agreed to buy Newcastle United and submitted "proof of funds" to the English Premier League, British media reported yesterday.

Doubts had emerged about whether the Zayed Group, of which Sheikh Khaled is chairman, would wrap up the £350 million (S$610.8m) deal.

But it responded with a statement, saying: "Terms have been agreed between us and Mike Ashley; these terms have been reflected in a document, signed by both parties, which has been forwarded to the Premier League." - REUTERS