Ashley has so far failed to strike a deal with Amanda Staveley despite months of talks.
Hall told the Daily Star: “I'm just a fan now and like everyone else, I want to know what's happening.
“Mike Ashley has obviously made up his mind to sell up but for whatever reason, it's taking an awful long time for him to do it.
“The clock is ticking and this stalemate is not doing the club any good at all."
Sir John, 85, believes that unless new signings come in this month, the fight for survival will go to the wire.
“Rafa Benitez is working with what is essentially a Championship squad," he said.
“He's doing his best but there is a worrying lack of quality out there.
“I know Mike doesn't go to many games these days but he must know the squad is in desperate need of improvement."