Mike Ashley has agreed to sell Newcastle to a relative of Manchester City owner Sheikh Mansour for £350m, according to reports.
The Newcastle owner has long had a strained relationship with the club’s fans, who have grown angered by his lack of investment into the side. Last year, a takeover bid from Amanda Staveley fell through, but now The Sun claim that Ashley could be selling the club at the third attempt.
Per the report, Newcastle will be bought by Sheikh Khaled bin Zayed Al Nehayan, the billionaire cousin of Man City’s Arab owner.
The Sheikh is a member of the Abu Dhabi royal family, and has a keen interest in football, having failed in a £2bn takeover bid of Liverpool last year.
Ashley could have sold Newcastle to Sheikh Mansour before he bought City more than a decade ago, but refused to meet him. Now, though, he has the opportunity to sell the club to one of the City owner’s relatives.
One of the more pressing issues at Newcastle is the future of manager Rafael Benitez, who could be encouraged to extend his contract with the promise of financial backing from Sheikh Khaled.
When pressed by Chronicle Live over the reports, Newcastle offered a simple response of “no comment”.
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