Newcastle set to make takeover announcement

Mike Ashley dramatically cut costs after relegation (GETTY IMAGES)

Newcastle will make an announcement on Monday over ongoing efforts to sell the club.

Owner Mike Ashley was expected to make a decision by the end of this week over whether or not to accept one of the bids currently on the table, or to continue running the Magpies himself for another season.

However, talks with local businessman Barry Moat, as well as two other consortia, are continuing as Ashley looks to strike a £100m deal for the club he bought for £134.4m a little more than two years ago.

The longer things go without a conclusion being reached, the more likely it appears that the current regime will stay in place with the transfer deadline fast approaching and the Magpies' squad threadbare in the wake of 10 departures and just one arrival.

However, although time is running down, the possibility of a new owner taking over remains alive, for now at least.

The news will do little to appease fans who are hoping for a change of ownership and the installation of a new manager - most favour Alan Shearer, who would be appointed by several of the competing consortia - and have vented their anger at Ashley in recent months.

However, they have also been pleasantly surprised by their start to the Coca-Cola Championship season, which has seen the team take seven points from a possible nine and will send them to Crystal Palace tomorrow sitting third in the table behind leaders Cardiff only on goal difference.

Should Monday's announcement be that Ashley has decided to take the club off the market for the second time after a lengthy, but ultimately futile search for a buyer, he will then face a decision over his manager.

Impressed by the way Shearer had run team affairs for the final eight games of a dismal campaign, he spoke to him at the end of last season with a view to making his appointment permanent.

However, he put the club up for sale just days later after the former Newcastle skipper had outlined his plans for the way forward.

It is understood Ashley believes greater experience is needed, and the Magpies have sounded out a series of potential bosses, including Joe Kinnear, in recent weeks.

But caretaker Chris Hughton, who has received the backing of several players following a positive start to the campaign, has insisted he is happy to remain in charge for as long as his services are required.

He said after the 1-0 win over Sheffield Wednesday in midweek: "Nothing has changed, if the club is sold at any stage, then possibly I might get a knock on the door and be told that things will change.

"I have very much enjoyed the challenge so far and I am very happy to continue until told otherwise."

Whatever happens over the weekend, recruitment will be a major priority during the final few days of the transfer window with Obafemi Martins, Sebastien Bassong, Habib Beye, Damien Duff, Michael Owen, Mark Viduka, Claudio Cacapa, Peter Lovenkrands, David Edgar and Ignacio Gonzalez having left since the end of last season.

In addition, Argentinians Jonas Gutierrez and Fabricio Coloccini have been linked with moves away, although the club today indicated that central defender Steven Taylor, reportedly a target for Everton, Liverpool and Aston Villa, is not for sale.

That would be good news for Hughton, who admits the exodus has to stop soon.

He said: "I am very hopeful that what we have here at the moment will remain at the club.

"I am also very hopeful that come the end of the transfer window, we have got a squad that is able to compete in this division and a squad that is able to compete at the right end of the table."

Danny Simpson, who joined on loan from Manchester United last week, is the only arrival to date, although there has been much speculation about Lovenkrands and Sol Campbell joining him.