Mike Ashley Agrees To Sell Newcastle To Saudi Arabia Consortium For £300M

Newcastle United owner, Mike Ashley has reportedly entered into a charge agreement with potential buyer, Amanda Staveley over the sale of the club.

BBC reports that the takeover has taken a step further after new documents show that Newcastle owner, Mike Ashley has give into the deal for a fee understood to be worth £300M.

The documents include details of a £150m claim related to Staveley's firm, PCP Capital Partners, and its long-running legal case against Barclays Bank PLC.

Recall that Ashley made known his intentions to sell the club in October 2017 having taken over in 2007.

Neither Ashley nor the financier, Staveley have said anything as regards the sale of the club but it is understood that negotiations have reached a mature stage.

Meanwhile, The Premier League has been duly informed of the potential deal and are understood to have begun the process of carrying out checks under its owners and directors test.