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Newcastle owner Mike Ashley agrees to sell the club to Arab Sheikh for £350 million

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Newcastle owner Mike Ashley agrees to sell the club to Arab Sheikh for £350 million
Credits: Fox Sports

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.

Newcastle owner Mike Ashley agrees to sell the club to Arab Sheikh for £350 million

Credits: Reuters UK

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.

Newcastle owner Mike Ashley agrees to sell the club to Arab Sheikh for £350 million

Credits: The India Times-Post

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.

Mike Ashley ‘agrees to sell Newcastle for £350m’ to Man City owner’s cousin from soccer

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.

Newcastle: Mike Ashley in talks with UAE Sheikh over £350m sale of the club from soccer

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.

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.

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