Dubai Investment Group have followed Dubai International Capital in insisting they have no intention of taking Newcastle off Mike Ashley's hands.

A statement from Dubai Investment Group said: "Following incorrect media speculation about Newcastle Football Club, Dubai Investment Group can confirm that it is not involved in any negotiations to buy Newcastle Football Club, nor does it plan to do so in the future."

The denial came amid reports that Ashley had snubbed a meeting with Arab investors after being told they were prepared to offer only £200million for the club.

That would have represented less than half the £480million said to have been quoted in documents handed to representatives of the emirate's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, earlier this week.