Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan  is buying Newcastle United from current owner Mike Ashley. Several British dailies reported the news today with confirmation from senior club officials.

The new owner Sheikh Khaled is a cousin of Manchester City owner Sheik Mansour. The 61 years old member of the Saudi Royal family is known to be football enthusiast with an eye for EPL. Last year, he made an attempt in vain to buy Liverpool for 2 billion euors. Reportedly 350 million Euros are changing hands in this transaction.

Mike Ashley put the club for sell two years ago. It had other takers like Amanda Stavely and Peter Kenyon. Apparently they have been unsuccessful to take over the club.

The former striker of Newcastle United, Micky Quin commented on the possible change of hands, “All I want is Newcastle to go to the next level. They need some investment and if Ashley can’t provide that then he has to sell. It’s hard not to get carried away with the news.”

It is speculated that the new owner is look to tie down manager Rafa Bentitez’s future and provide the Spaniard funds to strengthen the club.

The EPL club is having a dearth of trophies since 1969. Supporters are expecting this turn of event to be lucrative for the club.

Disclaimer:

The information contained in this article is for educational and informational purposes only and is not intended as a health advice. We would ask you to consult a qualified professional or medical expert to gain additional knowledge before you choose to consume any product or perform any exercise.

Jayita Sardar
Author

Aspiring journalist working for sportzbusiness.com and exploring the juncture of sports, business and technology. Interested in sports economy and logistics of sports policy-making.

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