Newcastle United legend Alan Shearer has given his take on the potential club takeover.

It seems Mike Ashley’s deeply unpopular 13-year reign will come to an end and the takeover talks have gathered pace in recent weeks.

According to reports from the Daily Mail, the £300million Saudi-led takeover is as good as done, and it is now subject to Premier League approval.

A part of the total fund has been paid already while the remaining part will be paid once the Premiership approves the change of ownership.

Shearer, the club legend, said that he is refusing to get excited until the sale of the club actually goes through.

The club’s all-time highest goalscorer said that Newcastle have been in this situation before, so he won’t get carried away.

Shearer added that the main concerning part is that Ashley hasn’t spoken a word about the potential deal. And that there is every chance that he can pull the plug off once it gets close.

“Like so many Newcastle fans, I refuse to get excited until the sale of the club actually goes through. I’m reluctant to get my hopes up — we’ve been here before, so what is the point,” Shearer wrote for The Sun.

“There are still questions to be answered. We are yet to hear about the finance of the deal and still haven’t heard anything from Mike  Ashley or the prospective buyers.

“With Ashley, once it gets close he may well try to move the goalposts. So until the deal is done, I remain cautious.”

However, it seems that the takeover is likely to take place before the start of the new season.

It has been claimed that all relevant paperwork has been signed and the process of completion is expected to take three to four weeks.