Newcastle United takeover update: Mike Ashley could sell 'by end of the month'

Newcastle United could be taken over by the end of the month, according to a report.
St James's Park.St James's Park.
St James's Park.

The Bin Zayed Group, led by Sheikh Khaled, claimed last month that they had “agreed terms” over a £350million takeover.

A statement read: “Terms have been agreed between us and (United owner) Mike Ashley. These terms have been reflected in a document, signed by both parties, which has been forwarded to the Premier League.”

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Newcastle and the Premier League have refused to comment on the proposed deal, which is said to be “progressing well”.

However, a report in The Sun today claimed that “it is hoped the takeover can be completed before the end of the month”.

Meanwhile, the club will be without a manager from June 30, when Rafa Benitez’s contract expires. The 59-year-old has been offered a new deal.