Amanda Staveley's £250m Newcastle bid needs significant progress to succeed
By Sky Sports News
Last Updated: 05/12/17 1:26pm
Amanda Staveley's present £250m offer to buy Newcastle needs to make significant progress in the next seven working days if it is to stand a chance of succeeding, Sky Sports News understands.
Sources close to the deal have told Sky Sports News that reports Newcastle owner Mike Ashley has been given a two-week deadline to accept PCP Capital Partners' offer are inaccurate.
Sky Sports News understands any agreement this week would not be concluded until the second or third week of January at the earliest, partly because any deal needs Premier League ratification.
PCP's present bid is based on them being able to carry out significant business in the January transfer window.
Sky Sports News understands Ashley values Newcastle at £380m having bought the club for £134m in 2007.
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He has been aware of the PCP bid for three weeks, but to date has found it unacceptable.
Newcastle are15th in the Premier League, five points above the relegation zone and without a win in six matches.