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Page last updated at 11:06 GMT, Tuesday, 7 October 2008 12:06 UK

Newcastle extend bidder deadline

Mike Ashley
Newcastle owner Ashley has insisted he will hold out for the right price

Prospective bidders for Newcastle have been given until 17 October to register a firm interest in the club.

It is believed eight parties have contacted investment bankers Seymour Pierce, who are acting as sellers, to show their intentions.

However, the extension of the period of interest means the completion of any sale may not take place until the end of November.

Owner Mike Ashley is believed to want about 280m to 300m for the club.

He put the Magpies up for sale in the wake of the sudden departure of former manager Kevin Keegan but has insisted he will hold out for the right price.

A four-page 'teaser' document has been handed to interested parties, who have been asked to sign a confidentiality clause, outlining what is involved in buying the club.

Last week, interim manager Joe Kinnear suggested that his reign at the club could run to 10 or 12 matches, rather than being six to eight as was first thought.

On Friday, three South African businessmen linked with a possible 300m takeover denied they had any intention to buy the club, with billionaire Johann Rupert saying he had "absolutely no interest and no knowledge".

The South African group were considered to be the frontrunners - with their interest in bringing Keegan back making them popular with the fans.

A Nigerian consortium was also believed to have presented its bid of about 350m to the club.

see also
Allardyce criticises Ashley reign
07 Oct 08 |  Newcastle
Francis offered Magpies position
05 Oct 08 |  Newcastle
Businessmen deny Newcastle links
03 Oct 08 |  Newcastle
Kinnear fury at 'scandalous lies'
03 Oct 08 |  Newcastle
Kinnear starts work at Newcastle
30 Sep 08 |  Newcastle
Ashley cuts Newcastle price tag
30 Sep 08 |  Newcastle
Shearer dismisses Magpies rumours
28 Sep 08 |  Match of the Day
Nigerians prepare Newcastle offer
26 Sep 08 |  Newcastle
Magpies name Kinnear interim boss
26 Sep 08 |  Newcastle
Ashley tells bank to sell Magpies
22 Sep 08 |  Newcastle

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