Newcastle owner Mike Ashley was pictured with financier Amanda Staveley in London on Wednesday night.
The duo reportedly met for the first time to discuss a potential takeover of the North East club three weeks after Staveley's PCP Capital Partners made an opening bid of around £250million.
Pictures of the meeting at a low-key Indian restaurant were published by the Sun.
Ashley regularly dines at the Paradise restaurant in Hampstead, which is just a 20-minute drive from his family home in the leafy village of Totteridge in North London
Ashley will only sell Newcastle United to Amanda Staveley and PCP Capital Partners if they make an improved offer of around £300m.