Newcastle takeover: Amanda Staveley ups offer to £300m in bid to complete protracted deal from Mike Ashley

Exclusive: Staveley and the PCP Capital Partners group have ramped up their offer and a deal feels more likely than ever

Amanda Staveley is looking to complete a buyout of Mike Ashley (Getty)

Amanda Staveley is believed to have made an increased offer to buy Newcastle United from Mike Ashley.

Staveley and her PCP Capital Partners group are thought to have tabled an offer above the £300 million mark for the club.

Ashley has already turned down a £250 million offer from Staveley and it was unclear whether she would return with an increased bid.

Now, it appears she has returned to the negotiating table and has improved her offer to around the levels Ashley is believed to want to end his ten year ownership at St James’ Park.

There are increasing concerns on both sides about the side’s current run - six defeats in the last seven games - and there is an acceptance that spending will have to take place in January.

Ashley spent £134 million buying the club from the Shepherd and Hall families in 2007 and has a debt of around £127 million. Ashley said he had to invest £80 million when he took over to clear debts after not undergoing due diligence in his haste to buy the club.

It has been a tumultuous ten year period in the club’s history, with two relegations and a lost court case with former manager Kevin Keegan.

Ashley publicly put the club up for sale in October and was keen on a deal being done before Christmas.

Staveley, who was instrumental in the change of ownership at Manchester City in 2008, is believed to have been the only party to table a serious bid.