By Russell Edge

27th Oct, 2017 | 3:40pm

Newcastle journalist reveals positive updates on takeover talks after meeting

By Russell Edge

A takeover deal for Newcastle United appears likely to be secured before the opening of the January transfer window, according to a reliable journalist.

Mark Douglas, Newcastle United reporter for the Chronicle, said on his professional Facebook account that he held a meeting with a fellow journalist from United Arab Emirates based newspaper the National, who had published a story outlining developments on Amanda Staveley’s takeover move for the club.

Douglas said that there is a feeling of confidence in the Middle East that Staveley, who is fronting investment firm PCP Capital Partners and is based in Dubai, will be able to pull off a deal to purchase the club from Mike Ashley.

However it was suggested that there is still some way to go in terms of agreeing a price for the Magpies, with the journalist reporting that Staveley and PCP have put a £300million valuation on the club, while there is uncertainty over where the funding to purchase the club would come from.

He says that there is a belief that such a deal could be agreed upon sooner rather than later, stating that it appears likely that the full takeover could be completed before the New Year, and the opening of the January transfer market.

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In other Newcastle United news, the club are lining up a move for a midfield maestro which would break their transfer record.

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