Mike Ashley's lawyers will continue their negotiations with the Bellagraph Nova Group after it emerged that the Paris-based group are serious about buying Newcastle United.
The Toon owner has dismissed an opening £280million bid but talks between both legal teams continue and Ashley is assessing a 29-page proposal put forward by the group head by Evangeline Shen and Nelson and Terence Loh.
Sources close to the deal are hoping to hear back from Ashley, who is currently in the United States, on what an acceptable proposal looks like.
They maintain they are serious and have sent him a letter of intent.
Ashley is growing tired of takeover talk after failing to gain any follow up from American TV mogul Henry Mauriss after the two businessmen spoke verbally about a £350million proposal.
The Toon owner has also urged Amanda Staveley and Saudi Arabia's Public Investment Fund to respond to the Premier League's request for more information that would push the case to arbitration and force a final decision.
