LONDON (REUTERS) - Mike Ashley has agreed to sell Newcastle United to Abu Dhabi's billionaire Sheikh Khaled bin Zayed Al Nehayan for £350 million (S$612 million), the Sun reported late on Sunday (May 26).
The contracts between Ashley and Sheikh Khaled have been signed and submitted to the Premier League, according to the report.
Ashley, who bought a controlling stake in the Premier League club in 2007, has in the past tried to sell the club.
Ashley, who owns British sportswear retailer Sports Direct International Plc said last October that he 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.
Sheikh Khaled, the cousin of Manchester City owner and Arab billionaire Sheikh Mansour bin Zayed Al Nahyan, previously failed in his bid to buy Liverpool Football Club for £2 billion last year, the Daily Mail has previously reported.
Sheikh Khaled is also the founder of Bin Zayed Group, a leading conglomerate with diverse business interests in the local and international markets.
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Newcastle United, the Premier League and the Bin Zayed Group did not immediately respond to Reuters' requests for comments.
MAURIZIO SARRI apologised to angry Chelsea fans who confronted him after the humiliation at Bournemouth. The Italian tactician locked his Blues stars in the dressing room for clear-the-air talks
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Football: Manchester City to play pre-season match in Japan
Mohamed Salah completed a memorable day for Egyptian football by retaining his African Player of the Year award in Senegal on Tuesday. The 26-year-old Liverpool star finished first with club-mate
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A resolute Bayern Munich defence limited Liverpool to few chances at Anfield in their Champions League tie, much to the satisfaction of manager Robert Kovac. Solid and smart Bayern hold Liverpool at Anfield [Video]
Liverpool parade LIVE stream: Champions League victory
bigsportsnews.com/soccer/liverpool-parade-live-stream-champions-league-victory-celebration-times-weather-video/
Liverpool will parade the Champions League trophy through the streets of the city today after beating Tottenham in Madrid last night. Mohamed Salah and Divock Origi scored Liverpool's goals in a 2-0 win at the Wanda Metropolitano, to seal the sixth European Cup of the club's history.
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Brendan Rodgers took a step closer to a return to the Premier League on Tuesday when Celtic chiefs said they had allowed him to talk to Leicester City who on Sunday fired manager Claude Puel. He has rebuilt his reputation in Scotland by leading Celtic to a back-to-back sweep of all three domestic
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Solskjaer aims thinly-veiled dig at Jose over 'stupid' tactics. Date published: Tuesday 15th January 2019 8:20. Ole Gunnar Solskjaer seemed to take a dig at Jose Mourinho over his tactics
BATE Borisov 1-0 Arsenal REPORT: Lacazette sent off after Dragun winner. The Gunners were well below-par as they were beaten in the Europa League encounter
BATE 1-0 Arsenal: Alexandre Lacazette SENT OFF in miserable
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England recovered from an early scare in Montenegro as Ross Barkley scored twice in a clinical 5-1 victory to continue their strong start to the Euro 2020 qualifying campaign on Monday.
England thrash Montenegro 5-1 after early scare | Free
Liverpool coach Juergen Klopp has said that the outcome of their Champions League last-16 tie against Bayern Munich on Wednesday will not affect the Premier League title run-in.
Result against Bayern Munich won't affect Premier League bid
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