By Russell Edge

2nd Dec, 2017 | 8:16pm

Report reveals sticking points in crucial update on Newcastle takeover development claims

There has been no second takeover bid for Newcastle United from Amanda Staveley and PCP Capital Partners after they saw their first approach rejected, according to a report.

The Chronicle have poured cold water over a claim from the Sun that the British businesswoman, fronting the approach from PCP, had made a second, £300million move to purchase the club from current owner Mike Ashley, who is said to be holding out for closer to £400million.

Instead it is stated that both parties are refusing to let any further information leak as they go about with their negotiations, having seen a bid turned down a fortnight ago.

It is said that Staveley is still firmly interested in securing a deal, but there are sticking points in discussions over the threat of relegation back to the Championship, as well as the ongoing investigation into tax fraud by HMRC, which are said to be affecting the valuation which she and her team are placing on the club.

Ashley has been at the helm of the club for the past 10 years, after buying out Sir John Hall and Freddie Shepherd in 2007, but has endured a tumultuous time on Tyneside.

A fifth placed finish and an appearance in the Europa League quarter finals has been marred by two relegations and a series of decisions which have infuriated the Toon Army during his decade at the club.

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In other Newcastle United news, Danny Higginbotham has pinpointed the Magpies’ failures in recent weeks.

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