The £300million takeover of Newcastle United is now in the hands of the Premier League, Sportsmail understands.
Sources have disclosed that all the necessary paperwork has been lodged with the competition, and that the potential deal now awaits their approval.
They have added that the process should take around ‘three to four weeks’, meaning that a consortium – backed by Saudi Arabia’s Public Investment Fund – could be in place well before the start of the new season.
And, for the first time, Sportsmail has learnt that Ashley has told friends he believes a takeover is ‘closer than it has ever been’.