Terms have been agreed for the purchase of Newcastle United Football Club by Sheikh Khaled Bin Zayed Al Nahyan.
That's according to a statement released by the Dubai-based business leader's Bin Zayed Group, which says that discussions are ongoing with the owner of the Premier League outfit, Mike Ashley.
It's following reports that emerged in recent days claiming that a deal worth around AED 1.6 billion was close to being agreed.
Despite going 50 years without winning a major trophy, Newcastle are one of England's best-supported sides, with their St. James' Park stadium holding 52,000 people.
Mitchell century helps New Zealand level ODI series with India
Dubai named long-term opening host of new beach volleyball championship
Amateur shocks pros for massive payday at 'One Point Slam' before Australian Open
UAE secure AFC U23 Asian Cup quarter-final spot
Ofner's premature celebration costs him Australian Open spot in epic collapse
