Mike Ashley is in 'advanced talks' to sell Newcastle United for £350m

The Mike Ashley era could be coming to an end, Newcastle fans!

Mike Ashley is reportedly in 'advanced talks' to sell Newcastle United for £350m.

The owner's relationship with supporters has really soured over the past few years and there have been a number of attempted and failed takeover bids as a result.

Fans are desperate to see the back of the Ashley era, which has yielded two relegations and constant frugality in the transfer market.

But this time around, the takeover rumours seem pretty darn genuine and the Newcastle faithful may finally see the back of Ashley for good.

The Guardian report that a sale to a consortium led by Amanda Staveley is well under way, with documents lodged at Companies House last week providing concrete proof of advanced negotiations.

It is said that Ashley will loan the consortium £150m to get the deal over the line. According to the Guardian, that money is to be paid back over a period of five years.

Should the takeover go through, Saudi Arabia’s Public Investment Fund would own 80% of the club, with the remaining 20% divided equally between PCP Partners and Reuben Brothers.

Kieran Maguire of the University of Liverpool explained the situation behind Ashley's £150m loan to the Shield Gazette, saying: "The claims are in an amount of £150 million, which is an eye-watering sum of money.

"Effectively, in the best case scenario this looks to mean that PCP are in takeover talks and that Mike Ashley is lending them £150 million to fund the deal.

Is the Ashley era coming to an end?

"Let's say they've agreed a price and they can't afford it in cash, this essentially means that Ashley is somewhat bizarrely lending them the money to buy the football club.

"It could be that Ashley is saying that he won't take all of the money now - similarly to what we saw with Sunderland and Ellis Short - and he retains some form of cash investment in the, but that gives him no power as you need the stake to hold the power.

"You could then be left with a scenario, which is similar to what we've seen at other clubs, where the original owner still has money in the club but they don't own the shares so they can't run it on a daily basis."

Staveley actually failed with a bid to buy Newcastle in 2017 after lengthy negotiations, so Newcastle fans will surely take nothing for granted until the takeover is signed, sealed and delivered.

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