Sky Sports News understands that the investment bank representing Mike Ashley is in talks with an unnamed consortium regarding a possible takeover of Newcastle United.
Keith Harris, the chairman of Seymour Pierce, is believed to have travelled to the North East on Tuesday to hold talks with an anonymous group that is interested in buying the relegated Premier League club.
Harris was appointed to sell the Magpies last September as owner Ashley unsuccessfully looked for a way out in the wake of a backlash from fans, who had been angered by the departure of former manager Kevin Keegan.
A number of parties showed an interest in the Tyneside outfit, but a deal was not struck and Ashley ended his attempts to sell his ownership.
However, in the wake of the club's fall into the Championship, the millionaire businessman is again looking to end his association with Newcastle, and talks are reported to be ongoing.
Meanwhile, boss Alan Shearer returned to Newcastle's Darsley Park training ground early on Wednesday morning to continue discussions with managing director Derek Llambias.
The former Magpies and England captain returned to his hometown team on a temporary eight-game basis at the beginning of April, but both parties are thought to be keen to extend the deal.
Shearer has not held back in his criticism of Newcastle's infrastructure in the wake of relegation, and he is considered to be the man to help regain a place in the top flight.