Freddy ready to go

Freddy Shepherd is on the brink relinquishing control of Newcastle United to billionaire Mike Ashley. Shepherd, 63, was unable to attend a board meeting with Ashley on Thursday at St James' Park amid concerns over the Newcastle chairman's health.

He was still in a Tyneside hospital on Thursday more than a week after being admitted with pneumonia and a collapsed lung.

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Shepherd's health has deteriorated dramatically and Sportsmail understands those close to him have suggested now is the right time to sell his near 30 per cent stake to Ashley, and not enter a pointless share-buying war.

Ashley bought a 41.6 per cent holding from former chairman Sir John Hall last week, but the sports store magnate is believed to have increased that stake to around 53 per cent mark which effectively puts him in control of the club anyway.

He met the Newcastle board on Thursday, and it is believed they have moved closer to accepting his offer of £1 per share.