What Rafa Benitez has been told about Sheikh Khaled's £350million Newcastle United takeover

The Bin Zayed Group claimed late last week that they had agreed a £350million deal to buy the club from Mike Ashley, with his reign on Tyneside looking set to come to an end.

But there has been little public progress since the Dubai-based group - led by Sheikh Khaled - announced they had submitted proof of funds to the Premier League on Wednesday.

READ: The major hurdle still to navigate in the Newcastle United takeoverNewcastle United are yet to respond to the reported takeover talks while the Premier League decline to comment on such matters.

However, the Northern Echo report that this may be due to Ashley signing a non-disclosure agreement with the group, preventing the club from commenting further.

The same report, though, says that manager Benitez - whose own future is up in the air this summer - has been kept up to date with developments.

It is understood that the Spaniard and his staff are continuing to prepare for pre-season as usual while takeover talks drag on.

MORE: All the names linked with a Newcastle United takeoverAnd Benitez has reportedly been told that he will have money to spend regardless of whether or not the takeover goes through - although the Bin Zayed Group could bolster his kitty should they take charge.

Any budget will play a key role in deciding Benitez's future with the former Liverpool boss yet to pen fresh terms at St James's Park. His current contract is set to expire at the end of the month.