American businessman Henry Mauriss is believed to have lodged a formal offer to buy Newcastle United.
The chief executive of ClearTV is expected to have put together a bid after holding talks with Mike Ashley in the last two months.
ChronicleLive understands that the proposal is worth £350million although Newcastle's current regime are yet to comment on the offer.
It is also unclear whether Ashley has thrashed out the full terms or how it would be paid.
However, sources are claiming that Mauriss wants to be in charge in time for the 2020/21 season.
Mauriss is reportedly a big Major League Baseball fan who has noted the success of Liverpool's link-up with John W. Henry and The Fenway Group who run Boston Red Sox.
The move follows the publication of the World Trade Organisation report which revealed their findings on links between Saudi Arabia and TV piracy.
There was no mention of Newcastle United's potential takeover proposal involving Amanda Staveley, the Reuben brothers and Saudi Arabia's Public Investment Fund.
The bid to from the Middle East is still in the process of the Premier League owner's and director's test and it is unclear whether Mauriss has reached the stage where top-flight chiefs are assessing his proposal yet.
