Newcastle United 'in negotiations with potential investors'

Newcastle United owner Mike Ashley is in the process of trying to offload the Premier League side to interested investors, according to a report.

The 53-year-old has been looking to sell the Magpies for the past few years and is said to have set a price of around £380m to buy the club outright.

According to Sky Sports News, Newcastle have signed non-disclosure agreements with a number of unnamed potential parties, but no deal is close to being finalised.

Chinese and other overseas investors are understood to have stepped forward in recent months, though the initial asking price of over £400m was seen as being too steep.

Ashley bought Newcastle for £134m a decade ago, seeing the club relegated from the top flight twice during that time.