Mike Ashley will sell Newcastle United, and a favorite has emerged.
Newcastle United have reportedly already found a potential buyer for the 'For Sale' club, with Turkish billionaire Murat Ülker believed to be the early front runner to take control of the club from current owner Mike Ashley.
A statement released on Monday evening confirmed that Ashley's company St James' Holdings Ltd, which formally owns the Magpies, wishes to sell the club.
Ashley, who made his fortune through his Sports Direct empire, is even willing to 'defer substantial payments' so that any new owner can immediately make 'meaningful investment in the club', which will cover things such as buying players.
According to the London Evening Standard, Ülker is willing to pay £220m to buy Newcastle, which would make him the first Turkish owner of a Premier League football club. He is also said to be ready to back manager Rafa Benitez with £60m in the transfer market.
Ülker, whose wealth is thought to stand at around £2.8bn, made his fortune through food and is the chairman of Yildiz Holdings, a company which famously owns huge biscuit brand McVitie's.
A spokesperson for Ülker told the Standard: "The Ülker family have substantial assets and significant investments already in the UK.
"We understand football and our initial specific target would be to make Newcastle a solid top six club and a permanent feature in Europe with a popular local and worldwide following."
There has also been rumoured interest in Newcastle from China, while Dubai-based British businesswoman Amanda Staveley was spotted attending the Magpies' clash with Liverpool earlier this month and is also believed to have interest in acquiring the club.
Staveley's PCP Capital Partners firm has helped broker huge investments for Manchester City owner Sheikh Mansour in the past, while Staveley herself also played a role in his purchase of City in 2008.