Current owner Mike Ashley put the club up for sale just last month.
Ashley’s tenure as owner for the past ten years has been fraught with controversy, with a host of failed managerial appointments and a renaming of St. James’ Park to the Sports Direct Arena.
At last 😂😂😂 pic.twitter.com/Tgwd534aCp
— Rob Lee (@7RobLee) October 16, 2017
Said to be looking for a clean break from the club, a move is now in the works that will suit both chairman and fans, according to Sky News.
The outlet reports that Amanda Staveley of PCP Partners, who has been heavily linked with a bid, is set to offer £300m for the north eastern club.
PCP Partners headed by Amanda Staveley has tabled a formal takeover bid for Newcastle United Football Club in the region of £300m and they hope to get exclusivity on talks this week
— Sky News Breaking (@SkyNewsBreak) November 20, 2017
The move could go through by the end of the year, which would be very welcome news for Newcastle manager Rafael Benitez.
Per various reports, the Spaniard has been warned that if Mike Ashley is still in place come the January transfer window, funds will not be available to him in order to improve the squad.
Newcastle currently lie eleventh in the Premier League, but after a quality start to the season, the Magpies have lost their last three league games.