Football is not immune from the flux afflicting the global economy, but at least three of the parties manoeuvring to buy Newcastle United have provided proof that they have the funds to revitalise the club. As of last night, the number of groups who have registered a firm interest in acquiring Mike Ashley’s stake before Friday’s deadline remained static at seven, but no one has dropped out.

Reports over the weekend suggested that Ashley, Newcastle’s billionaire owner, was hunkering down for an extended stay at St James’ Park in the face of the turbulent financial conditions that are affecting his search for a buyer. It has also been said that Joe Kinnear, the club’s interim manager, may remain in his position until the end of the season.

While the economic turmoil in the banking sector and beyond means that little can be guaranteed, supporters will be reassured that investors view Newcastle as a going concern. Consortiums from the Middle East, the Far East and the United States have registered an interest with Seymour Pierce, the investment bank handling the sale, and three have the means to buy players.

Given that Tony Jimenez, the former Newcastle vice-president (player recruitment), left the club last week and Ashley has indicated that he will not invest further in the team if he remains in situ for January’s transfer window, fans will hope that a deal can be concluded soon. Ashley is thought to be seeking up to £300 million for the club.

Kinnear has decided not to bolster his slim squad with a free-agent signing, despite having a spate of long-term injuries. “I have had a long look at Uefa’s list of players who are out of contract and available to join other clubs,” he said. “It is actually a massive list, but it is full of players who have only played two games for their clubs and these are not the sort of players I want for Newcastle United. Those types of players are not going to improve us and, to tell the truth, I already have better players here — even those who are on the fringe of the first team.”

Having led Newcastle to a 2-2 draw away to Everton in his first match in charge, Kinnear believes that the mood has lifted. “The levels of self-confidence when I arrived were as low as I have seen,” he said. “We have started to get the belief back in our ability and get more confidence.”