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  1. ITV Report

Newcastle United takeover talks over

Newcastle United has been the subject of takeover speculation. Credit: ITV Tyne Tees

Newcastle owner Mike Ashley has ended takeover talks with prospective buyer Amanda Staveley, ITV Tyne Tees understands.

Ashley, who put the club up for sale in October, had been engaged through his representatives with Staveley's PCP Capital Partners in a bid to thrash out a deal for the club he has owned for more than a decade.

However, it emerged on Tuesday night that he had finally lost patience and ended negotiations.

Mike Ashley. Credit: PA Images

A source close to Ashley told the Press Association: "It's only right to let the fans know that there is no deal on the table or even under discussion with Amanda Staveley and PCP.

"Attempts to reach a deal with Amanda Staveley and PCP have proved to be exhausting, frustrating and a complete waste of time."

Both Ashley and PCP Capital Partners have been approached for comment.