The proposed takeover of Newcastle United by financier Amanda Staveley and PCP partners group is back on after the Magpies' recent run of form has seen their Premier League survival chances look increasingly likely.
According to the Mirror, there have been positive talks between the representatives of current Newcastle owner Mike Ashley and Staveley in recent weeks and the Middle East backed PCP group are said to be willing to increase their offer.
Talks between Newcastle and Staveley broke down at the start of the year after PCP refused to agree to Ashley's £350m asking price. The prospect of relegation was included heavily in the takeover plans and PCP wanted to include a clause which would have seen their takeover bid decrease should the Magpies drop into the Championship.
Ashley grew frustrated by the number of clauses that were being inserted into the takeover offer, which could have seen the owner lose up to £100m. Negotiations ultimately broke down, much to the dismay of Newcastle fans.
Mike Ashley has stated that he still intends to sell the club once they have confirmed their Premier League safety. Three straight wins has seen Newcastle increase the gap between themselves and the relegation places to 10 points and talks with Staveley's group seem to be back on.
With survival nearly secured, the Mirror report that PCP are willing to increase their initial offer to around £300m, which is much closer to Mike Ashley's valuation. The proposed takeover now also includes plans to improve the club's training ground.
If a deal can be struck then Newcastle could ensure that they can hold onto their manager Rafael Benitez. The issue of transfer budgets for the Magpies boss led to reports that Benitez could leave Newcastle this summer after growing frustrated by the lack of backing from the owner.
However, Staveley's group are said to be committed to fully backing Benitez with sufficient transfer funds and intend to tie the Spaniard down at St. James' Park with a new contract.