Newcastle United remain privately sceptical that an offer from Sheikh Khaled bin Zayed Al Nehayan will lead to the sale of the club as Mike Ashley looks to bring an end to his 12-year reign at St James’ Park.

Although there was an initial wave of excitement on Tyneside after the Bin Zyayed Group released a statement confirming they had “agreed terms” the optimism was gradually replaced with familiar misgivings. This will be the fifth time in 11 years that Newcastle have supposedly been on the verge of being sold by Ashley, but on each occasion the talks have collapsed and there are growing fears this will follow suit.

Telegraph Sport understands that although a price has been agreed with the Al Nehayan, the United Arab Emirates based businessman is yet to provide proof of funds with sources indicating there is a long way to go before a deal is concluded.

Manager Rafa Benítez has also been told it is business as usual as no takeover is imminent. Other interested parties are also adamant claims Newcastle are on the verge being sold to Al Nehayan are completely false. It is also understood that a report stating that papers have been submitted to the Premier League to ratify the takeover are also inaccurate.