Newcastle United owner Mike Ashley is close to finally agreeing the sale of the club - according to a report.
Documents from Companies House emerged on Tuesday showing legal framework being put in place for the deal to be done.
Sky Sports report that PCP partners have been in talks with Newcastle since January and the deal is edging closer.
PCP will hold 10 per cent of the shares while The Saudi Fund, controlled by Prince Mohammed bin Salman, will own the majority of the club.
Billionaire brothers David and Simon Reuben will also hold shares in the club if the deal is ratified by the Premier League.
Former Rangers shareholder Ashley has been criticised by Newcastle fans during his 13-year tenure in charge of the club and the Sports Direct owner is understood to have agreed a fee of around £300m for the club.
That’s £40m below the original asking price but it’s reported that the coronavirus epidemic has caused the value of the club to drop.
And the new owners will invest a significant amount of money in the club should the deal go through.
Earlier this week, we revealed that they were lining up a £30m move for Scotland midfielder John McGinn.
The former Hibs star has been sensational for Aston Villa and Steve Bruce was the man who took him south of the border in 2018.
