Amanda Staveley has held face-to-face talks with Mike Ashley as she steps up her bid to become Newcastle's new owner.
The businesswoman's investment fund, PCP Capital Partners, launched a £300m bid to buy the Premier League club in October.
Ashley, who has owned the Magpies for the past decade, is a willing seller but is reportedly demanding £400m to relinquish control.
However, an agreement looks to be edging closer with The Sun revealing that the controversial Sports Direct magnate met Staveley in London on Wednesday for talks.
The duo were pictured at a London curry house along with media tycoon Richard Desmond, who arranged the meeting.