Newcastle United owner Mike Ashley hopes to sell the club this week.

The Daily Mail says Ashley is optimistic he can sell the club by the end of this week, with Malaysian billionaire Ananda Krishnan favourite to seal a £100m deal.

The reclusive Krishnan has twice sent his advisers to Tyneside to complete due diligence of the troubled club.

Malaysian Sports Minister Datuk Ahmad Shabery said: "This is a very good deal for Ananda. I hope it can have a big impact on the development of football in Malaysia."

Swiss billionaire Markus Liebherr yesterday rescued Southampton from administration by completing his £12.5m takeover of the club.