Mike Ashley will only accept a takeover bid if it is in the best interests of Newcastle United amid reports his reign is ending.

Ex-Premier League midfielder Michael Brown, speaking exclusively to Football Insider assistant editor Russell Edge, believes the Sports Direct supremo will want to make sure new owners can deliver a “feel-good factor” around St James’ Park.

The Telegraph report that the Premier League have been made aware of a bid led by the the Public Investment Fund of Saudi Arabia, while The Athletic’s George Caulkin claims “the Mike Ashley era at St James’ Park has never been closer to ending”.

Brown admits that the relationship between Newcastle fans and Ashley has never been a good one but that the owner will not cash in if he feels it will hurt the Magpies moving forward.

Brown told Football Insider: “I think you just look at the owner at Newcastle, there’s always been that bit of uncertainty, it’s never been as well as you would have liked to be, that relationship.

“We always want more investment, we always want other things, if he wants to sell it and he gets his price, so be it.

“I think you’ve got to say the club are in the Premier League, he made the signing of Steve Bruce, brought him in and they’ve had a really good season.

“You’ve just got to look and say: ‘Who is the person, who is the right person in a takeover?’ Not about cash or anything like that, he (Ashley) wants to make sure he does the right thing by Newcastle United and himself. Get a bit more feel-good factor around the place.”

Ashley has been in charge of Newcastle since the summer of 2007, the club suffering two relegations during his time at the helm.

The Magpies currently sit 13th in the Premier League table in what has been Steve Bruce’s first season in charge of his boyhood club.

In other Newcastle United news, Bruce has been tipped to sign an England international and build his side around him this summer.