A proposed £300m takeover of Premier League football team Newcastle United has taken a step closer after new documents show that controversial current owner Mike Ashley has entered into discussions with the potential buyer, Amanda Staveley.
Staveley is leading a bid which involves a Saudi Arabian sovereign wealth fund and British billionaires, David and Simon Reuben.
A 31-page agreement has been submitted to Companies House, which details the potential deal.
The Premier League has also been informed of the potential deal and are understood to have begun the process of carrying out the necessary checks under its owners and directors test.
As of this morning, neither party has made an official statement on the matter.