The businessman heading a South African consortium bidding to take over Newcastle has confirmed he has spoken to Kevin Keegan about returning to the club as manager.

Johnathan Cleland met the 57-year-old, whose resignation last month led to the protests which sparked Mike Ashley's decision to sell the Magpies, in Manchester on Monday evening and was encouraged by what he heard.

"My meeting with Kevin went very well," said Cleland in the Newcastle Evening Chronicle. "I am hugely impressed with him and I got the sense there is a good chemistry between us and there is a strong mutual interest in working together.

"He is our preferred option, but we can't make any concrete decisions on the management position until negotiations on our planned takeover are further advanced. I think he understands and supports our concept of developing the club organically."

Cleland's comments came as the group he leads stepped up their attempts to buy the club. He revealed his consortium is "80% confident" of pushing through a deal as up to eight prospective buyers jockey for position.

It is understood Ashley valued the club at around £300m and that the South Africans propose to pay half the money up front and the remainder over the following 12 months.