Newcastle United owner Mike Ashley has formally put the Premier League club up for sale and is hoping to complete a deal by Christmas.
Ashley's decade-long reign appears to be entering its final weeks, with the businessman prepared to entertain a deal involving staggered payments if it attracts the right investor.
A Newcastle statement read: "As a result of increasing press speculation regarding the future of Newcastle United, the owner of the club, St James Holdings Limited, wishes to clarify its intentions.
"As one of the Premier League's oldest and best supported football clubs -- and for the benefit of its many fans and supporters in the UK and across the world -- Newcastle United requires a clear direction and a path to a bright and successful future.