Amanda Staveley’s hopes of taking over Newcastle United before the end of the January transfer window are in the balance.
Staveley’s PCP Capital Partners have offered owner Mike Ashley a one-off payment of £250million for the Magpies.
Ashley was originally looking for closer to £400million for the Tynesiders.
However, it is understood that the billionaire could accept a bid closer to £300million.
Middle East-based financier Staveley wants to do a deal in time to invest in January, but time is running out.
If the two parties can come to agreement before Christmas, it would take a month to ratify a deal with the Premier League.
And that would leave Newcastle with an even shorter window in which to push through its transfer business.