There are reports suggesting that the Englishman, Ashley will out-rightly knock back the first bid from proposed takeover firm, PCP Partners.

Meanwhile, Newcastle and Chairman, Mike Ashley have come out to officially confirm receiving a takeover offer in the region of £300m from PCP Partners.

That is the latest development as regards PCP Partners who have reportedly tendered a formal takeover bid of that amount.

Meanwhile, the East-Midlanders’ owner, Ashley is reportedly on the brink of selling the club to Staveley, according to concrete reports.

As a matter of fact, the takeover of the Magpies is very much closer to seeing the light of day.

They are only a few days away from announcing the completion of a takeover by Staveley’s PCP Capital Partners group.

After some months of rumours from the media, unpopular owner, Ashley decided to officially put the Magpies on the market.

And that was sometimes in the month of October after which Staveley quickly stepped in to try and buy Newcastle.

The British businesswoman, meanwhile, reportedly put pen to paper on a confidentiality agreement with the North-East club sometimes last month.

The aftermath of a due diligence process, a total takeover is now on the verge of going through in few days.

According to a report coming from the Daily Star, both parties will issue a statement at some stage next week.

And that is in a very strong effort to finally usher in a brand new era at St James’ Park.