Russian Billionaire Reportedly Considering Launching Bid to Purchase Newcastle United

Russian billionaire Mikhail Prokhorov is reportedly weighing up the option of buying Newcastle United, after news broke on Monday of Mike Ashley's desire to sell the Magpies.

Wednesday morning saw reports emerge that Turkish foods company Yilmaz Holding - initial front-runner to buy the club - had distanced themselves from any possibility of purchasing the Magpies.

However, hope is not lost for the Toon Army, according to the Sunderland Echo. Russian billionaire Prokhorov is reported to be interested in selling his NBA side Brooklyn Nets (which he only bought at the end of 2015) in favour of getting in on the outrageous money boasted by the Premier League.

Prokhorov, a precious metals magnate, is said to be worth around £7bn - with Forbes placing him inside the world's top 150 richest people.

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Also reported to be intrigued by the possibility of purchasing the club is Liverpool fan Amanda Steveley; who caused a stir by appearing at St James' Park to watch the Reds face Newcastle in the 1-1 draw at the start of October.

She reportedly plans to lead a consortium of Chinese backers into owning a Premier League club, having previously failed to buy her beloved Liverpool, and playing a role in selling Manchester City to Sheikh Mansour.

Her company - PCP Capital partners - reportedly value Newcastle at around £300m and are considering a move for the club which they believe would need an investment of £150m into the playing squad.

Mike Ashley is believed to want the club sold by Christmas, and is confident of getting a deal sorted by the new year.