The Newcastle United owner Mike Ashley is in talks with eight potential buyers for the northeast club, according to interim manager Joe Kinnear.

"I know he is in talks with at least eight consortiums because he has told me that himself," said Kinnear. "Who they are, what they are, when it will happen; there is no timescale on it."

Prospectuses of sale, detailing the club's financial position, are believed to have been sent out to seven interested parties, with groups from Nigeria and South Africa the most prominent.

Kinnear revealed that due to the technicalities of the club's sale he may be at Newcastle for longer than anticipated. "I am contracted for eight games, but I assume that should due diligence and the deals go on a little bit longer, it may run into 10 or 12 games."

The Magpies have endured a dreadful start to the season and currently sit second from bottom in the Premier League table with four points.