Ashley still owns the team, but it is Staveley's consortium, backed by Saudi Arabia, that is close to buying the team.
Initial reports said that Bruce would stay on for now.
However, the Daily Star reports that Bruce has been left in the dark about the club's future.
The bid for the club is mostly financed by Saudi Crown Prince Mohammed bin Salman.
Bruce has helped Newcastle remain in the Premier League against all odds this season, but the new owners may want to bring their own man.