It's almost over for Mike Ashley at Newcastle United

Amanda Staveley. | PA (Press Association)

Mike Ashley’s 13-year spell as Newcastle United owner is nearing its end – with a takeover edging closer.

Amanda Staveley’s PCP Capital Partners last week submitted a 31-page document with Companies House which revealed significant progress in long-running talks.

Football finance lecturer Kieran Maguire has analysed the “intriguing” document. He told the Gazette: “Effectively, in the best-case scenario this looks to mean that PCP are in takeover talks and that Mike Ashley is lending them £150million to fund the deal.”

Staveley, backed by Saudi Arabia’s Public Investment Fund and the Reuben Brothers, returned with a new bid after failing with a takeover two years ago.

The proposed deal is worth £300million, according to the BBC. It’s also been reported that the Premier League has begun its checks on the club’s prospective new owners, who will need to address years of under-investment under Ashley. Neither side has made any comment, but United fans welcomed the news.