Owner of top EPL club agrees to sell the side for £350m to Dubai based billionaire

- Mike Ashley who owns Newcastle United is said to have agreed to sell the club

- The 54-year-old British billionaire has been the owner of the EPL side for the past 12 years

- He is willing to sell the club for £350 million to Sheikh Khaled bin Zayed Al Nehayan

Mike Ashley who is the owner of Premier League side Newcastle United has reportedly agreed to sell the club for massive sum of £350 million.

According to the latest report on UK Sun, the 54-year-old British billionaire has agreed to sell the club to Dubai-based billionaire Sheikh Khaled bin Zayed Al Nehayan.

Sheikh Khaled bin Zayed Al Nehayan is the cousin of Manchester City's owner Sheikh Mansour and he is said to have had interest in buying the club for the past two years.

Last year, he was also said to be interested in buying Premier League giants Liverpool, but the deal failed to work.

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Ashley has been the owner of Newcastle United for the past 12 years and the club had been subject to previous but unsuccessful takeover attempts from the likes of Staveley and Kenyon.

At the just concluded Premier League season, Newcastle United finished as 12th best on the final standings with 49 points.

But the club's fans are desperate for success having not won a major trophy since the Fairs Cup in 1969.

Earlier, Legit.ng had reported how former Manchester City striker Mario Balotelli is poised for stunning return to the Premier League with Newcastle United lining up a bid for the Italian.

Balotelli currently plays for French Ligue 1 side, Nice, but the club's top brass is understood to be ready to let the forward leave.

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