Former Newcastle chairman Freddy Shepherd will launch a ?75million takeover bid this week to resume control at the stricken Tyneside club.
And if Shepherd persuades owner Mike Ashley to accept his offer it will mean Geordie legend Alan Shearer will stay on as the Magpies' manager.
The initial indications from the Ashley camp are that there is no objection to Shepherd taking charge as long as a price can be agreed . And while neither party will comment on the takeover move because of confidentiality clauses, talks will take place on Tuesday which look like returning Shepherd to the chairman's office on the fifth floor at St James' Park.
It is understood that Shepherd's consortium consists of himself, son Kenneth and wealthy overseas investors.
Ashley put the club up for sale for the second time this season eight days ago, telling associates that he was looking for a quick sale at ?100m.
And if Shepherd persuades owner Mike Ashley to accept his offer it will mean Geordie legend Alan Shearer will stay on as the Magpies' manager.
The initial indications from the Ashley camp are that there is no objection to Shepherd taking charge as long as a price can be agreed . And while neither party will comment on the takeover move because of confidentiality clauses, talks will take place on Tuesday which look like returning Shepherd to the chairman's office on the fifth floor at St James' Park.
It is understood that Shepherd's consortium consists of himself, son Kenneth and wealthy overseas investors.
Ashley put the club up for sale for the second time this season eight days ago, telling associates that he was looking for a quick sale at ?100m.
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