Mike Ashley, the Newcastle United owner, has received two offers of at least £100 million to buy the club who were recently relegated to the Coca-Cola Championship.

Derek Llambias, the club's managing director, confirmed today that several bids, that met Ashley's asking price, have been tabled as hopes of a quick sale increase.

“There have been more than two bids at £100 million," Llambias said. “At the moment, we are in the hands of lawyers and it is all ongoing. We are giving interested parties all the help that they need.”

The identities of the bidders remain a closely-guarded secret becuase all have signed non-disclosure agreements before they were granted access to the club’s accounts.

It is thought that Llambias had shown a Malaysian consortium around St James’ Park and the club’s training ground last week, while the Singapore based Profitable Group and Freddy Shepherd, the club's former chairman, are known to have held discussions with Seymour Pierce, the investment bank, handling the sale.

However, amid suggestions that there have been offers at lower prices - the Malaysian group were said to have bid £80 million, but agreed to take on an overdraft of up to £40 million - Llambias is adamant that £100 million remains the figure that prospective buyers need to meet.

Newcastle were put up for sale days after Ashley and Llambias held talks with Alan Shearer, who was in charge for their final eight matches last season, over the vacant manager's position.

Shearer is keen to take on the role, but it is Chris Hughton, the caretaker manager, who is currently putting the players through their paces at a pre-season training camp in Ireland as talks behind the scenes continue.

Whoever does buy the club, time is fast running out to resolve problems with the playing staff and their cost. The Championship season starts on August 8 and the squad has yet to be finalised and an annual wage bill, which has been reduced to about £62 million in the wake of recent departures, is still way in excess of what a Championship side should be able to afford.

Explore Football

• Premier League

• Football League

• Scotland

• European Football

• International Football

• TheGame

• Live Match Tracker

• The Fink Tank

• Fantasy Football