Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan is set to become Newcastle United’s new owner, according to reports.
The Magpies have been up for sale since 2017 and after a two-year search, Toon chief Mike Ashley appears to have finally found a buyer.
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Sheik Khaled has previously failed with a £2billion bid to buy Liverpool
According to The Sun, Ashley has agreed to sell the club for £350m to the cousin of Manchester City’s owner Sheikh Mansour, with a deal expected to be finalised in time for a sizeable outlay in the summer transfer window.
The businessman is reportedly ready to end years of under-investment and bolster Newcastle’s squad.
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Ashley’s tenure has been littered with protests, with fans growing increasingly frustrated by his handling of the club.
This is the third time he has put Newcastle on the market – and previous bids from Amanda Staveley and Peter Kenyon proved fruitless.
Here, talkSPORT.com takes a look at Sheikh Khaled ahead of his proposed takeover on Tyneside.
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Sheikh Mansour bought Manchester City in 2008
Who is Sheikh Khaled?
The 61-year-old is a senior member of the Abu Dhabi royal family.
The total net worth of the royals is estimated to be £118billion – and Sheikh Khaled is also one of the most successful businessmen in the Gulf states.
He founded the Bin Zayed Group in 1988, a prospering company who specialise in construction and energy, trading and industry, real estate, technology and financial services.
Where would Newcastle rank among most expensive Premier League clubs?
If Shiekh Khaled does pay £350m for the Magpies, only one club would've cost more...
Manchester United – £790m (2005)
Newcastle – £350m (2019?)
Liverpool – £280m (2010)
Manchester City – £210m (2008)
Chelsea – £140million (2003)
In his early years, he studied business administration at Boston University and acquired a PHD in finance from Michigan State.
Sheikh Khaled, cousin to Manchester City owner Sheikh Mansour, has a keen interest in sport.
He is president of the UAE Sailing and Rowing Federation.
Back in 2017, he tried to buy Liverpool for £2billion, which would’ve been the most expensive buyout in the history of football.
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