Mike Ashley has been looking to sell the Magpies for more than 12 months, but as yet nobody has met his £100million asking price.
Local businessman Barry Moat is understood to be keen to do a deal, but as yet has not reached any agreement.
There are also four other interested parties, including one which is thought to emanate from South Africa.
The recent resolution to the long-standing Kevin Keegan dismissal claim has also helped any possible sale as the fear of a big pay-out is no longer hanging over the club.
Reports of any deadline for a deal to be done have also been rubbished, as Ashley and his hierarchy appear happy to wait for an offer that is right.