Mike Ashley's ownership of Newcastle United might finally be coming to an end.

The BBC's Alistair Magowan, Laura Scott and Dan Roan report that Ashley has entered into a charge agreement with potential buyer Amanda Staveley. The bid is believed to be in the neighbourhood of £300 million.

Staveley, 47, had attempted a purchase of Newcastle once before in the fall of 2017. The current bid has backing from David and Simon Reuben, British property investors, as well as the Saudi government's wealth fund.

The Premier League has been made aware of the agreement.

Ashley, 55, purchased the team in 2007. A sportswear magnate and owner of the Sports Direct chain of retailers, Ashley's relationship with Newcastle supporters has been tumultuous at best with fans demanding he sell the club on a number of occasions over his spell of ownership.