The Nigerian consortium planning to takeover Newcastle United are seeking assurances they will be able to install their own management team.

The Nigerian consortium presented a bid for the Premier League club last Friday but owner Mike Ashley is believed to be holding out for a higher offer, the source, who asked not to be named, told Reuters.

"Newcastle want more money but the Nigerians are researching possible management structures and not offering more until they know they can get the management they want," the source said.

The source said the Nigerian consortium wanted to hold talks with officials from the Nigerian Football Federation and the Nigeria Football League about how a successful bid might help develop the game in Africa's most populous nation.