Newcastle 'reject Chinese bids' for club in wake of relegation

Lee Charnley and Mike Ashley

Lee Charnley and Mike Ashley

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Newcastle United have rejected bids from Chinese investors looking to buy the club, according to a report.

Owner Mike Ashley made it clear that he was not willing to sell after the club dropped out of the Premier League last season.

And the Daily Telegraph reports that a number of foreign investors have since approached the club about a sale.

Chinese consortiums were reportedly "at the front of the queue".

However, they have all been told by managing director Lee Charnley that the club is NOT on the market.

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Newcastle are top of the Championship and odds-on favourites to return to the top flight at the first attempt.

Charnley and manager Rafa Benitez oversaw a huge squad rebuilding project in the summer which saw a dozen players, including Dwight Gayle and Matt Ritchie, recruited for a promotion push.

But the club still turned in a £30million-plus profit on transfers in the last window thanks to the high-profile departures of Moussa Sissoko, Georginio Wijnaldum and Andros Townsend.

Meanwhile, there has also been interest in North East rivals Sunderland from Chinese investors.