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NUFC optimistic of takeover deal by end of month

Newcastle United owner Mike Ashley

However, although he is serious in his effort to retake control at St James’s Park, The Journal understands the consortium involving former chairman Freddy Shepherd has not managed to provide evidence it has the funds to go through with a deal, while the Singapore-based Profitable Group is also behind the four consortia who have access to the data room for a similar reason.

Meanwhile, Shearer’s hopes of keeping highly-rated centre-back Sebastien

Bassong should he finally become Newcastle manager look bleak.

Although no bid has been accepted for the young Frenchman, Bassong claims he is already talking to two Premier League clubs about a potential move back to English football’s top flight.

Even if Shearer is appointed, it is almost certain Bassong will demand a transfer, as he has already said he has no desire to play in the Championship after such a successful first season in English football.

That will be a major blow to Shearer, who had intended to fight to keep the former Metz prospect who has one year left on his contract, but the lack of progress regarding his appointment means he is powerless to do anything to stop him.

The same is true when it comes to signing players.

Shearer had a number of potential targets in mind as he quickly turned his attention to the challenge of returning Newcastle to the Premier League, but he fears they will have moved to rival clubs by the time he gets back into the manager’s office at the club’s Benton training ground.