Freddy Shepherd is planning a takeover bid of Newcastle United - if they're relegated.

The Mail on Sunday says former Toon chairman Shepherd, still bitter about being ousted by Mike Ashley while on his sick-bed, believes the Magpies owner will be ready to accept a cut-price bid of about £90million if they drop into the Championship for the first time since 1993.

Shepherd was controversial as chairman under the ownership of Sir John Hall. He was caught out calling Geordie women 'dogs' and blamed for sacking Sir Bobby Robson in 2004.

But many supporters regard him as preferable to Ashley, whose two years at St James' Park have been a disaster.

A source said: "Freddy is waiting the wings. He can't afford to pay what Ashley did, but he knows the club will be for sale if they are relegated and is preparing the groundwork for a bid.

"Freddy got the blame for a lot of things as chairman but he was only the frontman for the Halls - he never owned it. He wants to see what he can do for Newcastle as the owner."