An American consortium is eyeing off Newcastle United.

The Daily Mail says a group of "seriously wealthy" US businessmen can meet Newcastle owner Mike Ashley's £300million asking price.

The group are ready to nip in ahead of a rival consortium, reported as being led by former Manchester United and Chelsea chief executive Peter Kenyon.

However if Newcastle, in 19th place, start to look relegation certainties any prospective deal is likely to collapse.

"We are talking seriously wealthy people," said the source. "They have the funding and see the potential.

"They see a sleeping giant and feel they cannot only have a real go at providing the success fans crave but also take Newcastle to the next level globally."