Newcastle United's takeover prospects have now moved on to the Premier League with Amanda Staveley's Middle East consortium believed to be undergoing the top-flight's owner's and director's test.
On an emotionally-charged day on Tyneside, the club maintained its "no comment" status and Mike Ashley did not respond to approaches from the media, but legal documents from Companies House stood up the fact that talks between the Sports Direct magnate and Staveley had been going on this month.
A 31-page charge agreement has been lodged at Companies House which lays out the legal framework for a deal to be completed.
With Saudia Arabia's Public Investment Fund part of Staveley's plan, the wealthy Riyadh-based company are said to be prepared to fund 80% of a potential takeover and end Ashley's 13-year stay at St James' Park.
Sources close to Staveley's company, PCP Capital Partners, have suggested that a deal has been agreed in principle but Ashley's camp are yet to clarify their position.
PIF have recently been in the market for companies that have wilted amid the virus pandemic and after buying stakes in four oil companies last week they are looking for bargains ahead of what experts see as an global economic downturn.
The legal process is still ongoing and nothing has been rubber-stamped at this stage but sources on Staveley's side believe they have a knock-down £300million deal within their grasp after months of discussions.
After repeated attempts for an on the record comment, neither Newcastle, Ashley or Staveley were prepared to break their silence on the deal.
