Sheikh Khaled Bin Zayed Al Nahyan is working to complete a takeover at Newcastle after agreeing terms with Mike Ashley, the billionaire has said.

The Dubai-based tycoon says he has "agreed terms" and is now attempting to "complete the transaction at the earliest opportunity".

Here, Press Association Sport looks at what might be waiting in the new owner's in-tray if the deal goes through.

Rafa Benitez's contract

It is not inconceivable to think that any new owner might have a different manager in mind, but Benitez is hugely popular with the fans and it would be a major gamble not to renew his contract, which expires at the end of June. Benitez has often called for Ashley to loosen the purse strings and give him more cash to spend in the transfer market, money he would expect to be available in the event of a takeover.

Sort out Salomon Rondon's future

Rondon spent last season on loan at Newcastle from West Brom and proved a major success, scoring 12 goals in all competitions, including the opener in January's win over champions Manchester City. The Venezuela striker has said he wants to stay on Tyneside and West Brom's failure to secure promotion from the Championship could mean a cheaper deal is available.

Improve the training ground/academy

Benitez is not satisfied with the number of youngsters coming through the club's academy and would like to see money spent on the training ground to boost the chances of producing homegrown talent. However, managing director Lee Charnley has previously indicated that the club would be better spending the money on players.

Transfer funds

Newcastle broke their transfer record to sign Paraguay international Miguel Almiron from Atlanta United in January, the £21million fee exceeding by £5million the amount paid for Michael Owen 14 years earlier. Although previous high-profile signings have a mixed record on Tyneside, Magpies fans remain desperate for the club to spend big and aim for some rare silverware.

The futures of Sean Longstaff and Ayoze Perez

Both players have been linked with a move away from Newcastle this summer, with Longstaff reportedly attracting the interest of Manchester United and Perez said to be wanted by Tottenham and Napoli. Whether the club will be prepared to let either player leave remains to be seen and will be complicated further if the prospective takeover drags on.