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.
Raphinha, Fermin score as Barcelona beat Athletic in home opener
Chelsea and Fulham reach League Cup third round as Welbeck scores on debut
PSG to meet Barca, Man City as Champions League draw throws up marquee ties
Abbas gives Pakistan slight edge as England battle back at Lord's
UEFA suspends FIFA boycott threat but steps up pressure on world body
