Newcastle´s board have announced they are to "consider" an offer from Mike Ashley following discussions with the billionaire businessman.

The board met Ashley, who recently bought a 41.6% stake in the club from Sir John Hall´s family, to determine his intentions for the club.

Under stock exchange rules, he was required to submit a formal takeover bid and today´s announcement appears to have taken his St James´ Holdings Limited group close to that goal.

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