Newcastle United owner Mike Ashley has agreed in principle a deal to sell the club, according to the Northern Echo.
The newspaper reports on its website that Ashley has come to an agreement regarding the terms of the sale which has a figure of £300 million, with payments set to be split into instalments.
Former Chelsea chief executive Peter Kenyon has been leading the deal, and he has had to prove to the Sports Direct tycoon that he has the financial security required to complete a sale of the club.
The report adds that a deal is not likely to be struck before the New Year as other details are yet to be finalised.
Newcastle fans will no doubt be absolutely elated if this report is accurate. The fact that they may finally be rid of Ashley will be music to their ears, and it would give them the hope that the club can eventually move in the right direction. However, it remains to be seen what type of impact this will have on Rafa Benitez’ transfer plans, especially as the deal has been reported as not being struck until the New Year. Fingers crossed that it does not affect what Benitez is planning to do in this transfer window, as a poor showing in January may just be the final straw for him and cause him to leave at the end of the season. The Spaniard has already had to endure a difficult transfer window in the summer where by he was not able to sign all the players he shortlisted, so fans will be praying that more develops in this one.