Newcastle United owner Mike Ashley is edging closer to a sale.

The News of World says the takeover of the Toon moved a massive step closer on Friday night when two groups had £80million bids accepted. Two parties - one American influenced and one North East-led - have matched broker Seymour Pierce's valuation of the club.

A further £20m will have to be paid if Newcastle can get promoted back to the Premier League.

A source said: "It is getting very close but it is so sensitive that the identities have to remain secret.

"They have both proved they have the funding to take over and the process is speeding up. There could be a third or a fourth bid early this week, but those two are at the front."