Mike Ashley has already rejected a takeover approach for Newcastle United - barely a month after taking full control.

The Sun says a group of Chinese investors negotiated to take over the Toon and hand billionaire Ashley a £20m profit.

An American-based investor also declared an interest in rivalling the Chinese bid.

A Toon insider confirmed: "Ashley got this club relatively cheaply and is now being offered the chance to make a big profit."

Ashley decided not to sell.