In an announcement, the Bin Zayed Group said "We can affirm the delegates of his Highness Sheik Khaled receptacle Zayed al Nahyan are in discourses with Mike Ashley and his group about the proposed securing of Newcastle United Football Club.
"We view it as an honour to have the opportunity to build on the strong support, history and tradition of the club.
"We have agreed terms and are working hard to complete the transaction at the earliest opportunity."
The big shot's partner has allegedly said the businessperson hopes to be in finished control so as to sign players in this current summer's exchange window, which opened on 16 May and closes on 8 August for Premier League clubs.
Sheik Khaled, the cousin of Manchester City proprietor and Arab very rich person Sheik Mansour container Zayed al Nahyan, attempted and neglected to purchase Liverpool for £2bn a year ago.
Liverpool affirmed gatherings took place in New York between executive Tom Werner and Midhat Kidwai, the overseeing chief of Sheik Khaled's aggregate.
In any case, the Press Association detailed the offer "did not move beyond the reviewing stage since it was esteemed neither valid nor deserving of being put to the proprietorship."
Sheik Mansour indicated enthusiasm for Newcastle in 2008 yet would in the end proceed to purchase Manchester City, changing them into the best club in England.
Sheik Khaled, an Emirati individual from the family who administer Abu Dhabi, is the organizer of Bin Zayed Group.
Newcastle United have not yet remarked on the buy.