Sheikh Khaled reportedly agrees terms to buy Newcastle

Terms have been agreed for the purchase of Newcastle United Football Club by Sheikh Khaled Bin Zayed Al Nahyan.

That's according to a statement released by the Dubai-based business leader's Bin Zayed Group, which says that discussions are ongoing with the owner of the Premier League outfit, Mike Ashley.

It's following reports that emerged in recent days claiming that a deal worth around AED 1.6 billion was close to being agreed.

Despite going 50 years without winning a major trophy, Newcastle are one of England's best-supported sides, with their St. James' Park stadium holding 52,000 people.