Newcastle United owner Mike Ashley has been handed a one-week deadline to accept a £260 million offer from Indian billionaire Anil Ambani.
The Sun says Ambani, the sixth richest man in the world, wants to buy the Toon and has told Ashley to give him a firm answer by next Monday.
Telecommunications magnate Ambani, 49, has more money than Roman Abramovich after amassing an incredible £21billion fortune and is competing with Singapore-based investors Profitable Group for a slice of the Tyneside action.
He is desperate to break into English football and will turn his attentions to Leeds United if his offer is turned down.
A source close to the deal said last night: "Ambani's people have seen how Ashley dealt with the last round of takeover revelations and will not stand for any nonsense.
"Ambani means business and if Newcastle drag their heels he will be off to invest somewhere else and show Ashley just what he is missing out on."