NEWCASTLE UNITED have refused to comment on this morning's reports suggesting the club could be taken over by a Saudi Arabian wealth fund.

However, while preliminary talks are understood to have taken place between the club and the Middle Eastern investment tool, which is headed by Crown Prince Mohammed bin Salman, senior St James' Park sources have suggested there is a high degree of scepticism about whether an agreement will be reached.

The club have been involved in a series of takeover discussions over the course of the last three or four years, only for them to collapse well before a deal is concluded.

In the past, Ashley has suggested that if a deal goes through, it will be completed before its details reach the public domain. Clearly, that has not been the case with the latest links, which were disclosed in the Wall Street Journal this morning.

The US media outlet claims the Saudi Arabian fund are hoping to buy Newcastle for £340m, a figure which broadly matches the sum Ashley has long been seeking before he agrees to sell up.

While Crown Prince Mohammed bin Salman is reported to be leading the Saudi consortium, it is also claimed Amanda Staveley is involved.

Staveley was the driving force behind a previous takeover bid that collapsed in acrimonious circumstances, with Ashley accusing the North Yorkshire-born financier of 'wasting his time'.

It is claimed in the US that if the deal goes through, it could be similar to the Abu Dhabi takeover of Manchester City in which untold football riches were pumped into the club.

Manchester United have twice been linked with takeovers by the same group, and it is understood bin Salman had been keen to complete a buyout at Old Trafford, only for him to fail to agree a deal with the Glazers.

The Saudi elite are known to be keen to increase their involvement in European sport in an attempt to shift the narrative of the way their nation is portrayed in the West.

That was one of the main factors behind the decision to stage Anthony Joshua's latest World title fight in Saudi Arabia.

Newcastle officials will not be making any on-the-record comments about this morning's reports.