The cousin of Manchester City owner Sheikh Mansour has struck an agreement to buy Newcastle United. The price being touted is £350 million, according to reports.
The club has been the subject of several failed takeover attempts in the past; including those of Amanda Staveley and Peter Kenyon.
However, the Sun reports that paperwork has been signed and submitted to the Premier League; paving the way for Mike Ashley to hand over the reins at St James’ Park to billionaire Sheikh Khaled bin Zayed Al Nehayan.
Al Nehayan; a cousin of Sheikh Mansour and a senior member of the Abu Dhabi royal family; failed in efforts to buy Liverpool for £2 billion last year.
But he now appears to have got his hands on a Premier League club as Ashley cedes power after 12 years in charge of the Tyneside club.
Ashley has made repeated attempts to sell the club. The first attempt came in 2008, and is understood to have finally succeeded with the 61-year-old founder of the Bin Zayed Group.
Meanwhile, Newcastle United and Leicester City are reportedly among the clubs chasing central defender Wilfried Kanon this month, according to a report published by The Sun.
The 25-year-old was a first-team regular for ADO Den Haag this season. He went on to make 30 appearances in the Dutch Eredivisie. He scored one goal and recorded one assist.
At this point, he may be feeling that the time is right for him to make a move to the Premier League.
Newcastle United were fairly inconsistent this season and clearly need to bolster their side if they want to challenge for a place on the top half of the standings next term.
A player such as Kanon certainly has the ability to add value to Rafa Benitez’s side.
Leicester may need to bring in a new experienced central defender this summer. This is the development, seeing how the future of their star player Harry Maguire being unclear.
While the Englishman has been unable to replicate his form from last term this season; he has been linked with a move to both Manchester clubs.