Informal discussions have taken place over the potential sale of Newcastle to American investors.

It is understood representatives of owner Mike Ashley have met counterparts from New York-based private equity fund InterMedia Partners.

A report claimed Ashley named a price of £420m - about £286m more than he paid for the club a year ago.

Sources in America confirmed that the US company held initial talks, but Newcastle have not commented.

Former chairman Freddy Shepherd had already fought off a series of potential takeover bids when Ashley made his move last summer, eventually securing a £134.4m takeover.

He has since ploughed around £100m into the club to address the debt situation he inherited and to strengthen the squad.

Ashley has now embarked upon a economy drive in an attempt to slash transfer expenditure and a spiralling wage bill.

Source: BBC Sport