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  1. ITV Report

Newcastle United 'closer to sealing takeover deal'

St James' Park. Photo: ITV News Tyne Tees
Amanda Staveley. Credit: ITV News Tyne Tees

There are reports this afternoon that the Mike Ashley era at Newcastle United will soon be over - and the club is close to agreeing a takeover deal worth at least £300m.

Amanda Staveley's PCP Capital Partners Group has been in negotiations to buy the club from Ashley for weeks.

ITV News Tyne Tees understands significant progress has been made in the last few days.

It's thought funds will be made available for Newcastle manager Rafa Benitez to spend during the January transfer window regardless of the timetable for the takeover.

Newcastle are at home to Everton in the Premier League this evening.