Freddy Shepherd is quietly confident of successfully buying out Mike Ashley at Newcastle United.

The Guardian says Shepherd is hopeful a deal can be struck which would allow him to return to Newcastle United as part of a buyout of the club's troubled owner, Mike Ashley. The sports retailer wants to sell and Shepherd is keen to strike an agreement to come back to St James' Park after departing as chairman two years ago.

Shepherd is part of a consortium looking to buy Newcastle, who were relegated from the Premier League in May.

He would then seek to retain Alan Shearer, who wants to be re-installed as manager but is in limbo due to Ashley's desire to sell up. Shearer is understood to be supportive of the consortium's plans.