The prolonged takeover of Newcastle United appears to have moved a step closer to being completed, according to The Sun.

The Magpies have been up for sale for some time, with owner Mike Ashley looking to sell the St James’ Park club after a lengthy unhealthy relationship with the Toon fans.

There has been plenty of previous speculation about consortiums being interested in purchasing the Premier League outfit, but Newcastle remains the property of the disliked businessman.

That could be about to change though with a £350 million takeover, which would see multi-billionaire Sheikh Khaled becoming the owner of the Magpies.

Such a huge purchase is always going to be a lengthy affair, but Newcastle fans who are getting frustrated by the amount of time it is taking, have reason to be calm about the situation.

Things are moving behind the scenes, to the extent that it is understood that Sheikh Khaled and his Bin Zayed group have sent their proof of funds details off to the Premier League.

The fit and proper process employed by the constitution of the top flight will need to be followed and completed, but things are said to be moving along on that front too, as the Magpies get into a position to be sold.

A new company has been set up which has Sheikh Khaled listed as a director of it, so it believed that is potentially the vehicle being used to control the purchase of Newcastle from Ashley.

With the new season rapidly approaching, the Magpies need the takeover to be completed as quickly as possible, in order for them to bring in the players needed to achieve their aims next term, as well as securing the future of manager Rafael Benitez, who will be a key part of any success they are likely to have moving forward.

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