Newcastle United is up for sale after Mike Ashley made it official on Monday afternoon.
He was previously reported to have 'dropped his asking price' in order to drum up interest for a quicker sale.
The Newcastle Chronicle reported that the billionaire retail entrepreneur and controversial boss of Sports Direct could be handing over the keys to St James' Park as early as before next February.
His lawyer confirmed the target is to have the club out of his hands by Christmas.
The Magpies owner is believed to have reduced his asking price for the club from more than £450 million to around £380 million in an attempt to attract interest.
Ashley would still make a tidy profit on the deal, having taken control of the club just over 10 years ago this summer by paying a total of around £134 million.
And there appears to be no shortage of interest from potential owners willing to splash the cash.
Amanda Staveley - a businesswoman whose company PCP Capital Partners oversees a portfolio worth £28billion - is reported to have held informal talks with club officials at St James’ Park earlier this month.
However, those talks are said to have taken place following United’s 1-1 draw with Liverpool - another club which Staveley is reported to be 'interested' in.
The Times claims that PCP are one of four interested buyers in Newcastle but, unlike the other three groups, Staveley’s company has not yet signed a non-disclosure agreement with United.
Interestingly, however, it is also reported that the three additional consortia have been conducting due diligence at Newcastle - and are attempting to push through a deal before the next Premier League TV rights package is completed in February.
The lucrative TV rights deal is expected to increase in value once again, and therefore the groups hope to complete any purchase before the cost of the club rises.
Though Ashley could demand a higher price for Newcastle once that new TV package is confirmed, it is also claimed that the Sports Direct magnate is also keen to conclude any sale as soon as possible.
It is suggested that Ashley has “conceded that Newcastle’s squad requires strengthening” during the January window, but that the United owner does not want to plough further money into a club he is looking to offload.
Certainly the Magpies are for sale at the right price but whether any prospective takeover occurs between now and February remains to be seen.