Newcastle United have confirmed via an official statement that the club is up for sale at a price of £100 million.
Owner Mike Ashley earlier revealed his wish to sell the team who were relegated from The Premier League at the end of last season, with the billionaire acknowledging that he would be making a significant loss on his original investment.
Ashley acquired The Magpies in the summer of 2007 when he paid around £130 million to former chairmen Sir John Hall, Freddie Shepherd and other major shareholders before writing off over £100 million worth of debt.
Should Ashley succeed in his wish to sell the club, it would see the owner of Sports Direct make a loss of over £130 million.
The club added on their official website that they would be making no further comment regarding the proposed sale, although Keith Harris, the man charged with finding a buyer, said over the weekend that there was ‘real and decent interest' in the club.