Newcastle United Still Up for Sale Despite Breakdown in Reported £275m Takeover Talks

Newcastle United are still up for sale despite Mike Ashley ending all talks with Amanda Staveley over her desire to purchase the Premier League club.

Media reports on Tuesday revealed that Ashley had become frustrated over Staveley and her company - PCP Capital Partners - dragging their heels over a rumoured £275m takeover, and ensured that the Sports Direct owner walked away from negotiations.

Despite that shock move, the Chronicle has claimed that Ashley hasn't taken the Magpies off the market as he seeks a sale that is more in line with his £300m asking price.

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Ashley also wants to do business behind closed doors away from the press after Newcastle supporters became aggrieved over the length of time that it was taking for the deal to be completed.

The 53-year-old is aware that constant media speculation over the club's future only heightened fans' concerns about how close the sale was to going through, and he wishes for discussions to remain private so as not to agitate an already disillusioned fanbase further.

Staveley emerged as the front runner for buying the north east team back in late November, and Newcastle fans had hoped she would take full control of the club by Christmas time.

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That clearly hasn't happened and, after Ashley grew tired of PCP's desire to not stump up the cash he wanted to sell up, must now wait to see if any other potential investors come forward.

Ashley is reportedly happy to take the £300m in installments but has no desire to sell with clauses such as Newcastle being relegated to the Championship being taken into account.

Ashley is said to have been left baffled by the amount of media attention his meeting with Staveley - held back in December in London - acquired and wants any future talks with potential buyers to remain unknown for as long as possible.

Staveley's offer remains on the table with the hope that Ashley could be swayed into selling for £25m less than his asking price, but it remains to be seen if that bid will ever be accepted.