LONDON Newcastle owner Mike Ashley is negotiating the 350 million (S$612 million) sale of the Premier League club to Abu Dhabi billionaire Sheikh Khaled bin Zayed Al Nahyan.The news has produced much upheaval upon Tyneside but, despite reports in the gulf it is a "done deal", there could still be a considerable push away to be covered.While Newcastle have privately declared talks are continuing, Midhat Kidwai, the managing director of the bin Zayed Group, which Khaled founded, said upon Monday night "terms have been agreed". He added: "We can assert that representatives of Sheikh Khaled are in discussions past Mike Ashley and his team very nearly the proposed acquisition of Newcastle."We view it as an honour to have the opportunity to construct upon the mighty support, records and tradition of the club."We have completely terms and are functional hard to final the transaction at the old-fashioned opportunity." A spokesman for the club declined to comment but it appears several hurdles remain and there are then caveats.Despite energetic in Dubai, Khaled is a advocate of Abu Dhabi's royal family, and a cousin of Manchester City owner Sheikh Mansour.It had in the past been regarded as unlikely that members of the same ruling associates would buy opposition football clubs.Mansour's buyout of City was conducted amid the utmost mystery and, as a declare of thumb, the takeovers that actually happen tend to be conducted in a similarly clandestine manner, hence the leaking of details rings alarm bells.Moreover any additional owner would have to pass the league's owners' and directors' test.Negotiations may or may not have reached that stage, but the league have adopted Newcastle's public "no comment" stance.The Magpies' feasible switch to middle Eastern manage perhaps explains the impasse over Rafael Benitez's conformity extension.His agreement runs upon June 30, but he has been in negotiations past Ashley over a additional appointment and Khaled is thought to be fervent to retain the Spanish manager.Previous invasion bids by British businesswoman Amanda Staveley and former Chelsea chief dispensation Peter Kenyon evaporated after entering the due diligence stage.But regardless of some nagging doubts, Khaled, who is said to have always been a enthusiast of English football and has long harboured ambitions to buy a top-flight club, seems to be being taken much more seriously than most.THE GUARDIAN






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