Amanda Staveley is understood to be closing in on a £300million deal to buy Newcastle United from Mike Ashley.
The businesswoman held talks with Ashley at a London restaurant last week after launching a bid to purchase the Premier League club on behalf PCP Capital Partners.
The talks were positive and, according to the Daily Telegraph, significant progress has been made in recent days.
Staveley had initially tabled a bid of £250m to buy out Ashley but that swiftly rejected.
However, that has now been increased to around £300m and it is understood that will be enough to convince the Sports Direct magnate to sell.