Newcastle United’s takeover by financier Amanda Staveley’s Middle-East backed PCP partners group is back on, according to reports.

It has been revealed there have been constructive talks between Newcastle owner Mike Ashley’s representatives and Staveley over the past few weeks.

Ashley pulled the plug on a deal for the club with the group in January after his £350million asking price was not met.

He believed there were too many clauses in the PCP offer which would have seen him miss out on a £100million instalment if Newcastle fail to stay in the Premier League this season.

However, PCP will increase their offer now that Premier League security is looking increasingly more likely for the Magpies.

PCP are reportedly confident of securing a deal in the region of £300million which could lead them to making plans to improve Newcastle’s training ground.

The club lie tenth in the league and have all-but secured safety with a victory at Leicester yesterday– Newcastle’s third win on the spin.

This could also see manager Rafael Benitez stay at the club as Staveley’s group are set to reward him with a new lengthy contract as well as a large transfer budget, should the takeover go ahead.