By Russell Edge

9th Oct, 2017 | 1:41pm

Date set - report reveals positive update on potentially crucial Newcastle deal

By Russell Edge

Newcastle United owner Mike Ashley is looking to sell the club as quickly as possible in order to avoid investing during the January transfer market, according to a report.

The Times claim on their website that the Sports Direct supremo has already signed nondisclosure agreements with three interested parties, while informal talks were held with PCP Capital Partners, fronted by international businesswoman Amanda Staveley.

It is said that Ashley has admitted that the club’s squad needs improving and that he has realised that would require expenditure in the winter transfer window, so securing a new investor could be critical to the club’s future.

As a result the newspaper claim he is looking to secure a deal sooner rather than later to avoid having to invest, while the interested parties are said to be looking to secure a deal prior to February.

The reasoning behind the potential investors’ demands for a swift deal is reported to revolve around the Premier League TV rights package, which will be completed in February, as they believe it will help increase the value of the club.

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Ashley has been at the helm of the north east side since 2007, but has endured a rocky relationship with supporters thanks to several controversial decisions, including the renaming of St James’ Park to the Sports Direct Arena.

Manager Rafael Benitez also voiced his frustrations during the summer transfer window as the Magpies failed to secure the Spaniard’s top targets, despite Ashley claiming he would have every penny left to spend.

As a result, Ashley’s departure would be viewed as a positive step by both fans and the manager.

In other Newcastle United news, Football Insider has named the starting XI who would destroy Southampton in the club’s next league clash.

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