Newcastle United owner Mike Ashley completes major deal with Hugo Boss

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Newcastle United supporters are hoping for a final decision on the club's takeover.

News broke over three months ago about a prospective £300million deal to buy the club, meaning that the fans have been on tenterhooks ever since.

Amanda Staveley is the figurehead of the Saudi-backed consortium who are said to be leading the charge for the club, with just one final test standing in their way.

The club are currently waiting on a verdict from the Premier League as to whether the £300million deal can go ahead.

However the latest developments around Mike Ashley could suggest that a deal could be close.

Chronicle Live have reported that Ashley's Fraser Group have doubled their stake in fashion chain Hugo Boss.

After an initial investment last year, the group now have 7million shares in the high-end fashion chain which equates to around 10% of the business.

A spokesman for the Fraser Group described the investment as 'strategic'.

What this means for the purchase of Newcastle United, we don't yet know but the fact that Mike Ashley is looking to increase his wider investment opportunities could be telling of what's to come.

GIVEMESPORT'S Phil Spencer says...

While patience is obviously key during such uncertain times, you can hardly blame the Newcastle United fans for growing restless.

For many, a potential announcement of a full takeover is exactly what they’ve been wishing for several years while enduring a turbulent reign under Mike Ashley.

The Sports Direct owner has been a hugely unpopular figure on Tyneside, and that’s why talk of interest from the Saudi-based consortium is such a hot topic of conversation.

But Newcastle fans must still be cautious.

If anyone knows what it’s like to see their club owned by an unpopular figure, it’s Newcastle United fans.

That’s why they must remain patient – after all, the last thing they want is to jump out of the frying pan and into the fire.

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