Talks held over Magpies sale

Reports claim informal discussions have taken place

Last updated: 4th July 2008

Mike Ashley Newcastle owner

Ashley: Reported asking price of £420m

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Newcastle United have reportedly held informal discussions with American investors over the sale of the club.

Reports in Friday's press claim representatives of owner Mike Ashley have met counterparts from New York-based private equity fund InterMedia Partners.

It has also been suggested that Ashley stated he would be willing to sell for a fee of £420million - around £286million more than he paid for the club last summer.

Newcastle have yet to comment on the speculation, however fresh reports emanating from America have claimed that the US company did make an approach to hold initial talks.

Furthermore, Sky Sports News understands the initial discussion between InterMedia Partners and Newcastle took place through a third party.