Mike Ashley has decided to sell Newcastle United F.C. for £350 million to Sheikh Khaled who is a Manchester City’s Arab owner. Ashley is a British retail entrepreneur in sporting goods in the market. He became the owner of Newcastle United after purchasing it for £135 million.
Who is Sheikh Khaled?
Sheikh Khaled is one of the most successful entrepreneurs in the Gulf States. Besides, he is also the owner of Bin Zayed Group which was established in 1998. The 61-year-old always had an interest in soccer. Plus, he also loves the Premier League. This is the reason why he is more interested in buying Newcastle from Mike Ashley.
Mike Ashley sells Newcastle United to Arab Sheikh
Recently, Mike Ashley has signed a contract to the Premier League. The contract reads that he has sold Newcastle to Sheikh Khaled bin Zayed Al Nehayan. Sheikh Khaled is a Dubai based billionaire and the cousin of Sheikh Mansour.
Apart from that, he is also the lead member of the Abu Dhabi royal family. As per the sources, he was disappointed for failing to takeover Liverpool for £2 billion in 2018. Now, Ashley has finally decided to terminate his 12 years rule over Newcastle.
After taking over the Newcastle, Sheikh has decided to form a new contract with manager Rafa Benitez. Besides, he is ready to offer endowments to bolster a limited squad.
Mike Ashley has agreed to sell Newcastle for £350m to the cousin of Manchester City’s Arab owner Sheikh Mansour. (Source: Sun Sport) pic.twitter.com/5ZtpfRwfpD
— Transfer News Live (@DeadlineDayLive) May 26, 2019
In 2008, Ashley tried to put the club on sale. Plus, he failed for the first three times. Now, the Newcastle fans are hoping for their favourite team to win the trophy. Let’s hope that the team brings the cup home.