The cousin of Manchester City owner Sheikh Mansour has consented to buy Premier League club Newcastle United, the Sun reported on Sunday.
Abu Dhabi billionaire Sheikh Khaled bin Zayed Al Nehayan has struck a £350m deal with current owner Mike Ashley.
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The pair have signed contracts and tendered the paperwork to the league, the paper said.
Agents of Sheikh Khaled said on Sunday night the deal was “concluded” and that the prospective new owner is very interested in keeping Rafael Benitez as manager of the club, the Daily Mail reported.
The magnate's associate told the paper the businessman awaits to be in complete control in time to sign players in this summer's transfer window, which opened on 16 May and closes on 8 August for Premier League clubs.
Sheikh Khaled, the cousin of Manchester City owner and Arab billionaire Sheikh Mansour bin Zayed Al Nahyan, tried and failed to acquire Liverpool for £2bn last year.
But the Press Association reported the offer “did not get past the vetting stage because it was deemed neither credible nor worthy of being put to the ownership.”
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Sky News approached Newcastle United, the Premier League and the Bin Zayed Group for comment but did not receive any responses.
This article was most recently revised and updated 4 years ago