The People is reporting today that Mike Ashley has a two-week window to agree on a deal to sell the club.
The paper also reports there are two more potential buyers who have entered the bidding and Ashley is waiting for them to put in an offer for the club.
The Amanda Staveley bid of £250M seems to be deadlocked with Amanda unwilling to increase her bid and Ashley unwilling to accept less than £300M for the club.
Ashley has a total investment in Newcastle of about £262M and he would no doubt like to get his money back.
There were reports of a second bidder yesterday but this is the first time we have heard of a third potential buyer.
The current situation is that Ashley is waiting for a bid from either or both of these new potential buyers.
Mike Ashley – will he accept a bid in next two weeks?
The news a few days ago was that even if a deal is agreed to now it could take by the end of January to fully complete it.
So it looks like we will be stuck with Ashley having to come up with the funds to buy new players in January.
Heaven knows how much he will give Rafa Benitez to bring in new players – not much probably.
Given that we have lost six of the last seven games and seem to be in a complete free fall then if money is not made available in January Newcastle will almost certainly be relegated.
And Mike Ashley will get nowhere near £300M for the club when we are back in the Championship.
If a deal is agreed within the next two weeks the People suggests it is possible for the new owners to be in control sometime in January.
But we doubt that’s possible with the Christmas holidays likely to slow everything down.
The best bet would be that a deal is agreed quickly and transfer fees are made available for January by the new potential owners as a short-term loan to the club.
That would allow Rafa some funds to strengthen the squad – which is now imperative.
But what a way to run a football club!
Even when he’s trying to leave, Mike Ashley is causing undue chaos at Newcastle.