Malaysian businessman Ananda Krishnan has denied reports he is interested in purchasing Newcastle.
Newcastle owner Mike Ashley had been optimistic over selling the club bythe end of this week, with Krishnanfavourite to seal a £100m deal.
The reclusive Krishnan was reported to have twice sent his advisers to Tyneside to complete due diligence of the troubled club.
Malaysian Sports Minister Datuk Ahmad Shabery added confusion to the potential takeover after hailing the deal.
He said: 'This is a verygood deal for Ananda. I hope it can have a big impact on thedevelopment of football in Malaysia.'
Carlo takes swipe at United claiming Owen wouldn't get a look in at ChelseaItalian job for Gutierrez as flop Newcastle winger heads for RomaBut, Krishnan has since released a statement through Usaha Tegas Sdn Bhd, a company owned by the billionaire, distancing himself from a move for the Magpies.
'News reports were carried on July 5 and July 6 in variousnewspapers in Malaysia and Singapore that Mr Ananda Krishnan orcompanies owned by Mr Krishnan had expressed an interest in purchasing Newcastle United Football Club (and) that his representatives had been engaged in talks to explore or even conclude such a deal,' said the statement in Malaysian newspaper The New Strait Times.
'There is in fact no truth or foundation to this story.
'Mr Krishnan has not expressed an interest in purchasing Newcastle United Football Club, has not sent any delegation to Newcastle to engage in such talks or authorised any representatives to negotiate on his behalf and is not considering any such purchase.'
A number of parties are believed to have shown an interest in buying the recently-relegated club while an unknown Malaysian consortium is believed to have toured St James' Park.
Little is known about the parties that are believed to have shown an interest, although Newcastle managing director Derek Llambias said on Monday 'more than two' had met owner Mike Ashley's asking price of £100million.
Aside from the Malaysian group, Singapore-based Profitable Group, an American consortium and former chairman Freddy Shepherd are thought tobe among those who have also entered into discussions.