Former Newcastle United chairman Freddy Shepherd is planning a massive £40 million takeover of Spain's Real Mallorca.

The Sunday Mirror says Shepherd, who has a home on the Balearic island, has turned his attentions to the Mediterranean after being linked with moves to buy into a number of English clubs including Leeds United, Bolton and Sheffield Wednesday.

Mallorca President Vicenc Grande has put his 93 per cent shareholding up for sale with an initial asking price of 40million Euros (£31.45million).

But Grande has warned that an overseas buyer will have to pay a premium because he would prefer the club to remain under Spanish control.