Newcastle United takeover edges closer to completion

A Newcastle United takeover has moved a step closer after new documents show owner Mike Ashley has entered into a charge agreement with potential buyer Amanda Staveley.

Financier Staveley is leading a bid which involves Saudi Arabia's sovereign wealth fund and the Reuben Brothers. Reports suggest the deal to be worth £300m.

The 31-page charge agreement lodged at Companies House lays the legal groundwork for a potential deal to be completed.

The documents include details of a £150m claim related to Staveley's firm, PCP Capital Partners, and its long-running legal case against Barclays Bank PLC.

The Premier League has also been informed of the potential deal and is understood to have begun the process of carrying out checks under its owners and directors test.