By Russell Edge

5th Mar, 2018 | 5:05pm

Reliable journalist delivers update on Newcastle takeover hopes involving multi-billionaires

Newcastle United are still up for sale and a deal involving PCP Capital Partners and the multi-billionaire Reuben Brothers is not off the table, according to a reliable journalist.

The Chronicle’s Lee Ryder has delivered his update on the potential takeover on Tyneside in a video update on the newspaper’s website (05/03, 16:23), insisting that current owner Mike Ashley is still open to bids after putting the club on the market back in October 2017.

PCP Capital Partners, who are fronted by British businesswoman Amanda Staveley, are said to still be interested in securing a deal, but are currently working in the background on other deals, including a deal with multi-billionaire siblings the Reubens brothers to purchase a plot of property in New York City, as confirmed in a press release between the two companies.

It had been stated that the duo had pulled out of a prearranged agreement to back Staveley’s failed bid to secure the Magpies, but Ryder insists that the ongoing deals between the two parties suggests there could be renewed hope for their investment in a bid.

Football Insider verdict

All has gone quiet on a potential takeover but fans should not think that interest in the club has just disappeared. The Magpies’ dreadful run of form earlier in the season, where they picked up just one point from eight matches, came at a time when rumours of a takeover were at their highest, and it seems as though everyone is staying hush for the good of the club. Once the Magpies secure their Premier League safety and the season comes to a close, there will likely be much more discussion over a potential deal, not least because Mike Ashley will be able to deliver a truly accurate valuation after the prize money for the final finishing position.

In other Newcastle United news, a Sky Sports expert has confirmed one star was lucky against Liverpool.