Newcastle takeover back on track

Ashley bought the club for £134.4m in 2007

Mike Ashley could sell Newcastle by the end of next week after ex-manager Kevin Keegan's £2m legal settlement, BBC Sport understands.

Keegan, who left the club in September 2008, took Newcastle to court for constructive dismissal and won his case earlier in October.

Tyneside businessman Barry Moat is among the contenders to seal the purchase of the club for £100m.

Chris Hughton would remain in charge if the deal goes through immediately.

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In August Moat was given extra time to persuade Barclays Bank he was able to service the Championship club's £39m overdraft.

Moat is understood to want Alan Shearer as manager if his bid is successful. Former England and Newcastle striker Shearer was at the helm at the end of last season.

Mike Ashley bought Newcastle in 2007 for £134.4m but has endured a torrid time in charge of the club following his purchase culminating in their relegation from the Premier League last season.

But the settlement with Keegan has now cleared the path for the club to be sold, should Ashley be prepared to accept the asking price.

Two other consortia are also reportedly in talks with the hierarchy at St James' Park.