Newcastle United owner ,Mike Ashley is set to sell the club £350m to cousin of Manchester City owner Sheikh Mansour.
According to The Sun, the Dubai-based billionaire Sheikh Khaled is set to take over at St James’ Park.
The 61 year-old, senior member of the Abu Dhabi royal family and last year attempted £2b takeover of Liverpool .
He is said to be a lover of football with a keen interest in the Premier League, and looks set to join the list of mega-rich owners in the English top flight.
The reports claim contracts over the £350m sale have been signed by Ashley and the Sheikh and have been submitted to the Premier League.
Of course, Newcastle have been here before with Ashley. Newcastle have been close to takeover attempts in the past, but ultimately all proved unsuccessful.
But it appears the Sports Direct boss widely hated by the Toon Army, who have continuously campaign for him to leave their beloved club – has now decided to end his 12 year reign in charge at St James’ Park.
It is claimed the Sheikh will look to tie down manager Rafa Benitez’s future and provide the Spaniard funds to strengthen his squad when his takeover is complete.
Supporters will be hoping the billionaire’s arrival will help to usher in a new era of success at St James’ Park.