Kevin Keegan has been offered a stake in one of the consortiums seeking to buyout Mike Ashley's Newcastle United.

The Evening Chronicle has reported that the South African group, who like their Nigerian counterparts want to re-install Keegan, will offer the 57-year-old a stake of up to 10 per cent in the business if he returns.

There have been suggestions that the group of five so-far-unnamed businessmen have already tabled an offer of £280million, within touching distance of the figure Ashley is thought to want for the club.

Seymour Pierce are conducting their business privately, with a series of other potential buyers also having registered their interest.