Newcastle United owner Mike Ashley is attempting to step up his efforts to offload the club.

Investment bankers Seymour Pierce, who have been appointed by the billionaire to handle the sale, are now seeking firm offers from a series of potential buyers, says the Daily Mail.

Up to eight consortia have entered into talks, although two of the more vociferous, one from Nigeria and the other from South Africa, appear to have slipped in the pecking order with City sources indicating there are more likely purchasers.

It is understood there has also been interest from the United States, the Far East and the Middle East, although the bidding process and due diligence could take six weeks or more.