Newcastle United today moved to dismiss speculation they have been taken over in a £227 million deal.
A report claimed the board had unanimously accepted a bid, which amounted to £140 million and the club's £87 million debt, from US hedge fund Polygon and the United Bank of Switzerland.
However, the club released a statement to the Stock Exchange denying the claims.
"The board wishes to clarify that it has not accepted any proposals for the company from any party nor is any due diligence being conducted on the company," it said.
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"Therefore there can be no certainty that an offer will be made, nor as to the terms on which any offer would be made. A further statement will be made as appropriate."
PA