Newcastle boss Rafa Benitez finally gets the chance to spend after £350m takeover

RAFA BENITEZ has been waiting for this moment.

Since touching down on Tyneside in March 2016, the Newcastle boss has grown increasingly frustrated with Mike Ashley’s lack of ambition and investment.

But Benitez bided his time in the hope that, when the day came for someone to finally take the Toon off owner Ashley’s hands, he would still be at the helm to guide the club to glory.

Well, the Spaniard’s patience is about to pay off. SunSport exclusively revealed Ashley has agreed a £350million deal to sell to Sheikh Khaled bin Zayed Al Nahyan.

And if the relative of Manchester City owner Sheikh Mansour passes the Premier League’s owners’ and directors’ test and provides proof of funds, the Toon will be transformed.

Sheikh Khaled is the founder of the Bin Zayed Group — a leading group of  businesses with diverse interests in local and international markets.

SunSport understands he wants to keep hold of Benitez, out of contract on June 30.

I am nowhere near wealthy enough in football now to compete with the likes of Manchester City.

Mike Ashley

The ex-Liverpool and Real Madrid  manager held talks about his future with Ashley in London on May 16.

He was minded to sign up to a short-term stay, but no deal had been agreed.

It now seems that impasse was down to the fact Ashley has been in talks to end his troubled 12-year Toon tenure.

While it is understood Benitez did not know of Sheikh Khaled’s interest until SunSport broke the news on Sunday, he could now get the chance to unlock  Newcastle’s potential — the reason he came to Tyneside in the first place.

Under Ashley, Benitez was set to be handed a summer transfer kitty of around £50m — small change by Prem standards.

Newcastle were also refusing to pay  players top wages and managing director Lee Charnley had warned in April the club will continue to “live within its means”.

Benitez cannot stand  another struggle and wants to be challenging the top six.

He recently revealed he wanted to manage in the Champions League again before he retires in ten years’ time. The idea of him being able to do that at Newcastle seemed laughable.

With Sheikh Khaled and his billions on board, it might actually be plausible.

Ashley has known for some time that the Toon could never challenge the top teams while he remained in control.

In August 2017, he said: “I am nowhere near wealthy enough in football now to compete with the likes of Manchester City.”

Incredibly, Newcastle are now on the brink of being owned by Abu Dhabi  royalty themselves.

LEARNING FROM PAST

Amid the excitement yesterday, there was, understandably, scepticism from Toon supporters because there have been false dawns before — two in the past 18 months.

In December 2017, it was claimed Ashley was about to sell to financier Amanda Staveley and her Middle East-backed firm.

A month later those talks were shelved and Staveley was branded a time-waster.

A year on, in December 2018, Ashley revealed live on Sky News that  talks to sell were “more progressed than ever”.

Yet those negotiations, understood to be with ex-Manchester United and Chelsea chief exec Peter Kenyon, also broke down.

But this is different. SunSport revealed contracts between Ashley and Sheikh Khaled were signed and submitted to the Premier League on Friday night.

Bin Zayed Group director  Midhat Kidwai said: “We’ve agreed terms and are working hard to complete the transaction at the earliest opportunity.”

Sheikh Khaled has been in the market for a Prem club for a while.

He made an ambitious £2bn takeover attempt of Liverpool last summer — but failed to provide a £25m down payment deposit and proof of funds.

The £350m needed to buy Newcastle should be no problem. Sheikh Khaled must then get through the red tape.

If he does, Benitez — worn down and weary after three years under Ashley — will barely be able to believe his luck.