Following further talks between both parties, Amanda Staveley is understood to be tabling a new and improved offer to buy Newcastle United, according to the Express, believed to be in excess of £300m.
There has been no response from Mike Ashley or any of his representatives as it seems he is awaiting to see the details of the Premier League's new TV deal before making a firm decision about the ownership of the club. It is expected that top-flight clubs can anticipate a major increase on the lucrative £5.14bn Sky Sports and BT Sport agreement, which is already in place.
It appears there will be minimal funds available for Rafa Benitez to spend during the current transfer window; news that is bound to frustrate the manager and the club's loyal supporters. It is no secret that the lack of information and progress on the deal and long term future of the club is frustrating the Spanish manager as the Magpies continue to strive for Premier League survival.
It understood that Benitez welcomes the Staveley-fronted PCP Capital Partners Group’s takeover bid. Nevertheless there are increasing fears among those close to the manager that if Staveley is unsuccessful he could quit, probably at the end of the season which will concern many fans.
Ashley remains a divisive figure for supporters with his treatment of club legends Kevin Keegan and Alan Shearer, his attempts to rebrand St James’ Park and his perceived lack of ambition when it comes to investing in the team.
It was expected that a deal was to be completed by Christmas, but that deadline has since been and gone with little progress made. Now with the new TV deal being negotiated this might explain Ashley's hesitation, although in theory this would increase the value of the Toon but the more the Magpies become embroiled in a relegation battle, the less attractive the club becomes to any buyer.
Newcastle United, it seems are currently stuck between a rock and a hard place. The sooner this ownership issue is resolved, it will prove to the benefit of the club and its faithful supporters as at the moment the club's long term future appears uncertain and its Premier League status far from guaranteed.