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BREAKING NEWS: American media tycoon Henry Mauriss makes £350m bid to buy Newcastle and hijack Saudi Arabia-led takeover to end Mike Ashley's reign this summer

American businessman Henry Mauriss has made a £350million offer to buy Newcastle United and wants to take control before next season, sources have told MailOnline.

It is said that Mauriss is ready to move quickly but any deal would be dependent on the collapse of the Saudi-led takeover currently subject to the Premier League’s owners and directors test.

Mike Ashley agreed a £300m price with the Saudi consortium in April and it is not known why Mauriss has offered £50m more.

American businessman Henry Mauriss has made a stunning £350m bid for Newcastle United

Newcastle supporters are sure to be sceptical of the claims and they remain hopeful that the Premier League will approve the Saudi deal.