Retail tycoon Ashley making serious progress in selling Newcastle

Damien Duff

High spirits: Newcastle's Damien Duff celebrates scoring in the 2-2 draw with Everton - Joe Kinnear's first game in charge

Owner Mike Ashley believes he's still on track to sell Newcastle before Christmas - with seven serious offers on the table.

The retail tycoon has been approached by investors from the Middle East, China and the United States over a £300m deal, reports the Mirror.

Three consortiums say they are ready to invest heavily in players and appoint a new manager at St James' Park.

Interim manager Joe Kinnear says morale has improved at Newcastle.

'We have started to get the belief back in our ability and get more confidence,' he said.

'Everybody has been working hard, and to see the reaction has been great.'