Manchester City boss Sheikh Mansour may soon be competing with his cousin.
UAE billionaire Sheikh Khaled Bin Zayed Al Nahyan says he is “in discussions” with Newcastle United owner Mike Ashley and that the sides have agreed terms.
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Early morning reports were met with skepticism, but Khaled has released a statement backing the reports.
“We view it as an honour to have the opportunity to build on the strong support, history and tradition of the club.
“We have agreed terms and are working hard to complete the transaction at the earliest opportunity.”
Khaled was rebuffed in a bid to buy Liverpool for $2.5 billion last season, and has set his sights further north. Will Newcastle be the latest club to surge under foreign investment?