By Laura O'Leary

13th Dec, 2017 | 1:30pm

Reliable journalist provides massive Newcastle takeover update that will delight fans

George Caulkin of the Times has revealed that he understands a deal between Amanda Staveley’s PCP Capital Partners and Mike Ashley for the takeover Newcastle United is close to being agreed.

Caulkin posted the update on Twitter sharing that an increased bid of £300million has been submitted and there has been significant progress over the last few days.

However, he did reinforce the fact there had been no official comment from either party.

Caulkin also revealed that as he understood it there would be money released for transfers next month, whether the takeover is finalised or not, with the paperwork expected to take a long time.

The transfer fund news will be a boost to fans and Rafa Benitez who was keen to find out his budget in order to strengthen his squad in January.

The respected journalist continued by saying there have been compromises made by both sides, and that Sports Direct adverts were set to continue at the club for a limited time.

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Ashley had previously declared that he wanted to sell the Magpies ahead of Christmas, and this update looks like he might get his wish.

A recent report believed that Staveley’s second bid, her first was rejected, was around the £250million mark, but Caulkin suggests that it closer to what Ashley wants at around £300million.

Caulkin’s update also contradicts a previous report that Ashley was set to play the long game in order to drive a bidding war between other interested parties.

In other Newcastle United news, Football Insider has exclusively revealed that the club are considering a move for a top-flight forward.

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