The chief sports writer of the Chronicle Lee Ryder has claimed that PCP Capital Partner's takeover bid of Newcastle United hasn't collapsed, despite rumours of the business giants pulling out of a deal to buy the club from owner Mike Ashley.
Taking to his official Twitter page, Mr Ryder claimed that lawyers representing both sides were deep in talks and negotiations, while Mr Ashley is due back in the UK from is travels next week. The Sports Direct owner is believed to value his club at £300m, while PCP are only willing to part with £250m to purchase the Magpies.
Newcastle fans are hoping to see a deal done as soon as possible, as the highly controversial owner has been an unpopular figure on Tyneside for the duration of his ten-year spell as owner. The Magpies have suffered two spells in the Championship during the tricky period in the club's history, and Ashley's failure to invest in new talent has repeatedly been met with the fans' rage.
With the January transfer window about to open, Toon boss Rafael Benítez will be eager for the future of the club to be decided as soon as possible. The former Liverpool and Real Madrid boss will be desperate to acquire funds to strengthen his squad in January, and will be mindful that Ashley is unlikely to spend money on new players if he is preparing to sell the club.
Newcastle's form on the pitch has been dire this season, as a lack of attacking options has seen them win just one of their last 11 matches. Boxing Day's 2-1 victory over West Ham United and the narrow 1-0 loss to Manchester City is bound to offer the players and fans some hope - as they appear to be turning a corner with their performances.