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Mike Ashley reveals Newcastle could have new owners before January

Mike Ashley says Newcastle United could have new owners before January with takeover talks at an advanced stage.

The sports retail tycoon revealed on live television last night that he is hopeful of selling the club in the coming weeks, hours after he appeared in front of MPs at a parliamentary select committee to explain how he could save the UK High Street.

Sources close to Ashley have long since insisted that £300million up front would be enough to do a deal to buy the Magpies but no party — including Amanda Staveley and PCP Capital Partners 12 months ago — has ever come close to meeting his valuation, until now.