Newcastle United owner Mike Ashley has agreed a deal in principle to sell the club, according to the Northern Echo.
The newspaper claims that the Sports Direct tycoon has settled terms on a £300million sale of the Magpies, with the payments being staggered.
The deal is said to be with the consortium led by former Chelsea and Manchester United chief executive Peter Kenyon, who has been working to demonstrate to Ashley that he has the funds necessary for the purchase of the club.
However, the sale is unlikely to be completed before the New Year, with the finer details still to be sorted out, as well as Premier League ratification.
OPINION
If this is true then it is tremendous news for Newcastle fans. They have been crying out for news owners for the best part of a decade now, and it appears that we could finally be coming towards the close of the Mike Ashley era on Tyneside. Obviously, until the deal is completely signed, sealed and delivered there will be many who refuse to believe it – and with good reason. However, this latest round of updates feels different to anything experienced before. There appears to be a genuine willingness from all parties to get a deal done, as well as more flexibility from Ashley in regards to the terms of the sale. He seemingly is prepared to let the club go and is willing to compromise more than he was in the past. Hopefully that will see the deal completed in the next month or so, however the potential takeover is unlikely to be sorted in time to affect Rafael Benitez’s January transfer plans.