Deal signed in potentially huge development for Newcastle - Report
By Russell Edge
A group from China have signed an agreement with Newcastle United with regards to a potential takeover from current owner Mike Ashley, according to a report.
The Chronicle claim on their website that the unnamed group have agreed to a non-disclosure agreement with the club, as they look to form a deal which will convince the business supremo to sell.
It was reported back in June that a consortium from China, also going unnamed, were looking at investing in the Tyneside club, although it is unknown whether this is the same group who has signed the agreement.
The move could potentially be huge for the club, which would see Ashley end his 10 year stint with the Tyneside club.
The Sports Direct owner became owner of the club back in 2007, initially buying out Sir John Hall’s shares for £55million before completing his takeover for a fee reportedly in the region of £134million.
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Despite an initially warm welcome to the club, with him wearing replica shirts and sitting with fans during away matches, he has since suffered a turbulent relationship with the Toon Army.
He has been widely criticised for his running of the club, with a series of decisions and a lack of investment in the transfer market leaving the supporters frustrated.
The reported interest from China follows the club’s agreement with Chinese betting agency Fun88 to become the club’s primary sponsor over the summer, which is reportedly the biggest deal in Newcastle’s history.
In other Newcastle United news, Jermaine Jenas has predicted the club’s clash with Liverpool on Sunday.