Roman Abramovich has received several serious bids in the region of 3 billion dollars to buy the English football club.
The decision to sell the club was announced byAbramovich on Wednesday evening, saying it was in the best interest of the club.
According to the PA news agency, more offers are expected for the holders of the European Championship.
All offers will be reviewed by the team around the sale.
Swiss billionaire Hansjorg Wyss and American investor Todd Boehly are said to be interested in buying the club, but British billionaire Jim Ratcliffe has ruled himself out, saying there is no substance to the reports.
The Saudi-backed takeover of Newcastle has not been dismissed by the Staveley.
She spoke at the Financial Times Business of Football Summit. I am sad that someone is going to have a football club taken away because of a relationship they may have with someone, because this world is always going to have problems, and I know it is really hard. To be honest, I don't think that is fair.
I think that we have to account for all of our relationships. Saudi Arabia is an important country that I love and we need to remember that. I like the people there. I have seen a lot of change in Saudi Arabia.
I am talking as myself, not from a perspective of Newcastle. I am excited because I have to know a lot of people. I don't want people to be involved in war, I want them to be excited about football.
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The comments were labelled "unsurprising" and criticized by the organization who have raised concerns about the human-rights record of Saudi Arabia. There is no link between the owners of the Saudi state and the owners of Newcastle.
Felix Jakens said that the Premier League has a clear and immediate moral responsibility to change its ownership rules to strengthen the owners and directors.
The issue of the owners and directors test can be strengthened to include provisions to prevent someone from being implicated in violations of international human-rights law.
A full asset freeze and travel ban on Russian billionaire Alisher Usmanov was announced by the UK Government on Thursday.
The sanctions came a day afterEverton suspended all commercial and sponsorship activities with USM, Megafon and Yota in the wake of Russia's invasion of Ukraine.
The sale of the club by Roman Abramovich has thrown the summer transfer plans of the club into doubt, with the club unlikely to be able to invest heavily in the summer window unless a wealthy new owner is found in the next few months.
The Russian billionaire bankrolled the Blues since his takeover in 2003 and helped them win 19 major trophies.
The west London side broke their transfer record to sign Romelu Lukaku from Inter Milan last year, with the support of Roman Abramovich continuing even after he withdrew his application for a UK visa.
Sky Sports News has a chief reporter who answers the most pressing questions.
The threat of being sanctioned by the UK Government is one of the reasons Roman Abramovich wants to sell his company. He would lose control of the club if all his assets in the UK were frozen. It makes sense that he would try to sell the club as quickly as possible, as he is already trying to sell 200m worth of property in central London.
The leader of the opposition, Sir Keir Starmer, stood up in the House of Commons and asked the Prime Minister why he hadn't already taken action againstAbramovich. He could not comment on individual cases. While the threat of sanctions is hanging over him, it makes sense forAbramovich to try to sell his company as soon as possible.
It would be difficult to sell the club in the current climate. If you were trying to buy a flat in London or anywhere in the UK right now, you would be asked a lot of questions, including where the money is coming from and where it is going.
It is difficult to do business with Russian banks because of the sanctions. I don't think it will be easy.
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Speaking at the Financial Times business of football summit, Richard Masters, the premier league chief executive, said: "I think the situation has intensified incredibly quickly over the last seven days and he's come to the right conclusion." The current environment makes it unsustainable.
As soon as the sale process concludes, everyone has certainty, so it is a welcome decision.
It takes a few weeks to sell a club in the premier league, but Masters said the fastest sale was 10 days.
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