Speculation stemming from the English media this afternoon suggests that a merger of Newcastle United is inching closer to completion.

Ashley’s stormy predominate

Current Magpies owner Mike Ashley has moved the rule over proceedings at St. James’ Park for the last 13 years.

A somewhat surprising deal in 2007 construe the Plays Direct mogul purchase Sir John Hall’s 41% majority stake in Newcastle, for a fee of around PS55 million.

However, to say that Ashley’s time at the helm of the Geordie outfit has since been hectic would be putting it lightly.

A lack of investment in the society has visualized Newcastle relegated to the Championship twice over the space of Ashley’s reign, with the Magpies’ steadfast fanbase having seen their understandable exasperations increasingly clear over recent seasons 😛 TAGEND

WATCH: Newcastle followers demonstrate in the town centre against owner Mike Ashley ahead of today’s game v Goadings. pic.twitter.com/ snrmAcWr3D

— Sky Sports News (@ SkySportsNews) August 11, 2018

Newcastle merger imminent?

As such, bulletin this afternoon that negotiations over Newcastle’s sale are now well underway will no doubt come as music to the ears of the club’s fans.

This comes after Company House legal documentation, showcasing the framework for an agreement, divulged online earlier today,

And, as since confirmed by the likes of Sky Sports News, talks between Mike Ashley and PCP Capital partners are now at an’ advanced’ stage, ahead of what gazes an imminent Saudi takeover of the Geordie outfit.

Such a lot would be expected to be worth a fee in the region of PS3 40 million, with far-famed Dubai-based financier Amanda Staveley( who runs PCP Partner) acting as an intermediary.

Saudi Prince Mohammed bin Salman, one of the richest people on the planet, meanwhile, is the man to fund the takeover.

PCP Partners are in advanced talks with Mike Ashley to end his 13 -year tenure as owner of Newcastle United, according to sources directly involved in the takeover.https :// t.co/ yraWhLRlzR

— Sky Sports News (@ SkySportsNews) April 14, 2020

George Caulkin of the Athletic adds that Ashley’s reign at St. James’ Park’ has never been closer to ending ‘, a significant affirm when taking into account the host of collapsed Newcastle takeovers of years gone by.

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