Amanada Staveley's Newcastle bid 'backed by four or five Gulf investors'

Staveley was said to have that much money under her control when she emerged as a potential buyer for Newcastle United.

However, an investigation by The Observer has shed light on her backing and wealth.

It reports that "sources close to Staveley herself confirmed that she is not a fund manager, with the repeatedly cited figure of £28bn under management".

United owner Mike Ashley broke off talks with Staveley in December. The billionaire publicly branded their discussions a "waste of time".

Staveley, however, is still said to be interested in buying the club, which was put up for sale by Ashley last October.

The Observer also report that Staveley's bid has the backing of "four or five individuals in the Gulf, as yet unidentified".

Newcastle, 17th in the Premier League, take on Manchester United at St James's Park this afternoon.