Shek Khaled of the Bin Zayed group has confirmed he has 'agreed terms' with Mike Ashley over the purchase of Newcastle United.
Ashley has owned Newcastle since purchasing the club for £135m in 2007, but his relationship with the supporters seems to have been fractured beyond repair, with fans vocal in calling for a change in ownership for much of their recent history.
At the centre of their frustrations has been Ashley's perceived lack of investment in the first team, and it appears as if their wishes may finally be granted in the days to come.
So an official confirmation from both ends that the talks are real. Although the Bin Zayed Group state they are yet to complete the "transaction", the statement goes on: "We have agreed on terms and are working hard to complete the transaction at the earliest opportunity."— Lee Ryder (@lee_ryder) May 27, 2019
That's because the Bin Zayed group, financed by Dubai-based billionaire Sheik Khaled, contacted The Chronicle earlier on Monday, stating their intentions to purchase the club, and confirming that discussions are ongoing over a buyout.
"In response to the numerous reports in the world media this morning, we would like to comment as follows, we can confirm that representatives of His Highness Sheikh Khaled Bin Zayed Al Nahyan are in discussions with Mike Ashley and his team, about the proposed acquisition of Newcastle United Football Club.
"We view it as an honour to have the opportunity to build on the strong support, history and tradition of the club. We have agreed terms and are working hard to complete the transaction at the earliest opportunity."
The Chronicle add that Newcastle have corroborated the claims, and that a fee of around £350m is being touted to complete the takeover.