The Nigerian consortium eyeing a takeover of Newcastle United are ready to make an opening offer.

The Guardian says a Nigerian consortium intends to lodge a formal bid before tomorrow's game at home to Blackburn, but City sources remain extremely dubious about the viability of an African takeover.

However, Chris Nathaniel, the chief executive of NVA management, the entertainment company fronting the proposed offer, insists he and his colleagues are deadly serious and aim to reinstall Kevin Keegan as manager.

Rumours of interest from China, the United States and even the United Arab Emirates continue to circulate but, even if a potential buyer begins the process of due diligence, it could take up to two months for a sale to be completed.