Newcastle have denied reports claiming they thave accepted a takeover bid.
Reports claimed American financiers Polygon and the United Bank of Switzerland (UBS) had succeeded with a joint £227m bid.
But a Newcastle statement said: “The board wishes to clarify that it has not accepted any proposals nor is any due diligence being conducted.
“There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.”
However, the Daily Mail reported on Friday that Polygon and UBS were on the verge of completing a takeover for the Premiership club.
That led Newcastle’s share price to rise by 8% but the club are adamant that they are no nearer to finding a new owner.