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The club has been the subject of several unsuccessful takeover attempts in the past, including those of Amanda Staveley and Peter Kenyon.
However, the Sun reports that documents have been signed and submitted to the Premier League, paving the way for Mike Ashley to leave the reins of St James's Park to billionaire Sheikh Khaled bin Zayed Al Nehayan.
Al Nehayan, a cousin of Sheikh Mansour and prominent member of the Royal Family of Abu Dhabi, has failed in his efforts to buy Liverpool for £ 2 billion last year.
But he now seems to have gotten his hands on a Premier League club while Ashley gave up power after 12 years as head of the Tyneside club.
Ashley made several attempts to sell the club, his first appearance in 2008, and would have finally succeeded with the founder of the group Bin Zayed, 61 years old.
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