Newcastle United have received a formal offer to buy the club from owner Mike Ashley.
A financial firm headed by British businesswoman Amanda Staveley has tabled a takeover bid in the region of £300m for the Premier League side following two months of negotiations.
Staveley is believed to have lodged her bid late last week and hopes the takeover will be completed by the turn of the year in order to provide manager Rafael Benitez with the funds needed to reinforce his squad in the January transfer window.
Newcastle are yet to comment publicly on the news, although Ashley said in October he wanted to sell after 10 years in charge.
The 53 year-old has been a divisive figure at St James’ Park since taking over in 2007, with some supporters regularly protesting about the way the businessman has run the club.