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Reports of £300m formal takeover offer for NUFC

Amanda Staveley at St James' Park in October. Credit: Owen Humphreys/PA Wire/PA Images

There are reports tonight that Amanda Staveley's PCP Capital Partners has launched a bid to buy Newcastle United from Mike Ashley.

It's believed the formal takeover offer is for £300 million.

Who is Amanda Staveley?

Amanda Staveley played a key role in Sheikh Mansour's takeover of Manchester City in 2008.

She is said to control around £28bn of Middle East money through PCP Capital Partners and is reportedly looking to invest in an English top-flight club.

She met club officials after attending the 1-1 Premier League draw with Liverpool at St James' Park on October 1st.

Mike Ashley. Credit: Dominic Lipinski/PA Wire/PA Images

If the bid goes through it will be third time lucky for Mike Ashley, who bought Newcastle United for £134.4 million in 2007.

Two previous attempts to sell up have proved unsuccessful.

Weather Warning: Heavy rain on WEDNESDAY

Heavy and persistent rain is expected across parts of north and northwest England through much of Wednesday.

Many places within the warning area will see 25-50 mm of rain, with around 100 mm possible over higher ground.

Credit: Met Office

The heavy rain is likely to clear eastwards during Wednesday evening.

There remains some uncertainty with regards to the exact location of the heaviest rain.

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