Newcastle owner Mike Ashley is asking for a staggering £481million to sell the club to a group of investors from Dubai, according to Arabian business experts.
Despite the Dubai ruling family insisting they are not looking to buy any Premier League club, talks have been opened between Ashley and the Dubai-based group Zabeel Investments, according to ArabianBusiness.com.
Sale documents have been given to Zabeel by Ashley containing a price of 860 million US dollars (£481million) for the club he bought for £130million 16 months ago, and then ploughed another £100million into.
Zabeel Investments is owned by Dubai's ruler Sheikh Mohammed bin Rashid Al-Maktoum and was part of the consortium that tried to buy Liverpool in 2006.
However, Zabeel Investments chairman Mohammed Ali Al Hashimi has insisted he has not been directly approached.
He told Arabian Business: "We have not had any contact. I am not interested in any [English Premier League club] right now."
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