Ashley moves closer to takeover.
Mike Ashley's projected takeover of Newcastle moved a step closer to completion today after the club confirmed it had had "useful and constructive discussion" with the reclusive billionaire at St James' Park.
Ashley is believed to have been negotiating to increase his share ownership in the club to 54%, effectively giving him control.
He made a sudden purchase of Sir John Hall's 41.6% shareholding last week.
Financial Dynamics, the public relations company handling Ashley's interest, refused to comment tonight, while the club issued a short statement to the Stock Exchange.
It read: "Further to the announcement by Newcastle United plc on 25 May 2007, the board of Newcastle United announces that there was a meeting with Mike Ashley and his team earlier today at which there was a useful and constructive discussion."