Mike Ashley is considering selling Newcastle United amid interest from foreign investors.
Sky Sports report that owner Ashley is "considering all options" after a number of approaches in recent weeks.
Reporter Keith Downie said: "We understand NUFC have received significant interest in recent weeks from foreign investors – including one party from China.
"We believe Newcastle owner Mike Ashley is now considering all options available amidst real interest from Chinese investors."
Newcastle are set to benefit from the Premier League's lucrative TV deal after winning promotion.
And the club is now a far more attractive proposition for investors.
Ashley had previously insisted that United was not for sale.
Newcastle have made no comment on the story, but the Gazette understands that Ashley is weighing up a sale.
It is unclear what impact this development will have on Rafa Benitez and his summer plans.
Ashley met Newcastle manager Benitez for talks last month after the club won the Championship.
At the time, the billionaire said: "I've confirmed to Rafa and Lee (Charnley, United's managing director) that they can have every last penny that the club generates through promotion, player sales and other means in order to build for next season."
More to follow