A consortium fronted by former Chelsea and Manchester United chief executive Peter Kenyon is close to agreeing a price for the club. And the legal team at law firm Walker Morris, who are working on the sale with Kenyon, have been told all Christmas leave has been cancelled. It suggests both parties have thrashed out a deal in principle and are now working on the finer details in readiness for a takeover within the next few weeks. Ashley has stated he wants to sever his links with the club he has owned for the past 11 years.

The legal team at law firm Walker Morris have been told all Christmas leave has been cancelled

And the buyers too are keen to get their feet under the table as soon as possible. That is music to the ears of Newcastle boss Rafael Benitez, who knows his January spending plans could depend on the sale of the club. Benitez has kept his counsel since news first emerged that a takeover was in the pipeline but realistically he will only sign a new contract to stay at St James’ Park if new owners come in. It is understood payment methods over the sale have still to be thrashed out but there is broad agreement on Ashley’s valuation.

Newcastle EXCLUSIVE: Mike Ashley is edging closer to an agreement with Peter Kenyon

Newcastle EXCLUSIVE: Peter Kenyon was the chief executive at Manchester United from 1997 to 2003

Kenyon’s consortium includes Rockefeller Capital Movement, based in New York, and while other parties remain in the background, they are the main group with the financial muscle to invest heavily into to the club. The US firm has more than £18bn of assets and regards Premier League football – and particularly sleeping giant Newcastle, with 50,000-plus crowds for every home game – as a risk-free investment. Twelve months ago, a takeover bid led by Amanda Staveley was dismissed out of hand by Ashley.

Newcastle EXCLUSIVE: Rafa Benitez will be happy with the mooted change in ownership

Newcastle EXCLUSIVE: Mike Ashley has grown into a very disliked figure on Tyneside