Mike Ashley has agreed to sell Newcastle United to £ 350 million ($ 445.24 million) for Abu Dhabi's billionaire Sheikh Khaled Bin Zayed Al Nehayan [$ 445.24 million]. ] and ] Reuters reported late on Sunday.
The contracts between Ashley and Sheikh Khaled have been signed and sent to the Premier League according to the report.
Ashley, who bought a controlling stake in the Premier League club in 2007, has tried to sell the club.
In October last year, Ashley, who owns UK sportswear dealer Sports Direct International Plc, said he had not received any acceptable offers to Newcastle, a year after he officially put up the club for sale, but told Sky News in December, negotiations on an agreement had made promising progress.
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Possibly the buye club should be able to provide means of transfer that he had said at that time.
Sheikh Khaled, cousin of Manchester City owner and Arab billionaire Sheikh Mansour bin Zayed Al Nahyan, previously didn't want to buy Liverpool Football Club for $ 2bn. Pound last year, Daily Mail previously reported.
Sheikh Khaled is also the founder of Bin Zayed Group, a leading conglomerate with various business interests in local and international markets. 19659003] Newcastle United, Premier League and Bin Zayed Group did not respond promptly to Reuters' comments comments.