By Russell Edge

14th Dec, 2017 | 1:03pm

Reliable journalist: Key man to depart in Newcastle takeover talks - timescale updated

Talks over the potential sale of Newcastle United are set to go on for some time with “plenty of work” yet to do before a deal is agreed, according to a reliable journalist.

Luke Edwards, the Telegraph’s north east football reporter, claims on his personal Twitter account that crucial negotiations between current owner Mike Ashley and proposed investor Amanda Staveley are still ongoing and that the timescale over the takeover is not as close as others have claimed.

It is also said that Ashley, who evidently plays a key role in negotiations, is set to depart talks temporarily while he takes a holiday, which could further set back the move.

Wednesday saw claims that Staveley and Ashley had made significant progress in discussions and that they were closing in on a £300million arrangement which would see the Sports Direct supremo’s decade on Tyneside come to an end.

It was also reported that both of the businesspeople had agreed upon a deal which would see Newcastle boss Rafael Benitez handed a transfer kitty of no less than £30million for the upcoming January transfer window.

Ashley officially put the club up for sale earlier this season as he looks to bring his 10 year tenure at the helm of the Magpies to an end, which has seen the club go through tumultuous times as a result of his ownership.

Subscribe to Football Insider TV now

They have suffered two relegations during his time at St James’ Park as well as a host of controversies both on and off the field, which have taken the gloss off a fifth placed finish in the top flight and an appearance in the Europa League quarter finals.

In other Newcastle United news, this forgotten man has made a shocking transfer claim about the club.

We’ve launched a << BREAKING NEWS FEED>> exclusively for your club. ‘Like Us’ on Facebook by clicking here if you want 24/7 updates on all Newcastle United breaking news.