Newcastle takeover talks 'at an impasse'

Owner Mike Ashley put the club up for sale 13 months ago, but the Gazette understands that there has been no formal offer for the club since Ashley broke off talks with financier Amanda Staveley in January.

There is some interest in the club, which is valued at upwards of £300million by Ashley, from the USA.

However, the Mail on Sunday claim that "an unwillingness to insert a relegation payback clause" is an issue for would-be buyers on the other side of the Atlantic.

It is reported that a "group of serisouly wealthy American investors" want to insert a clause which would give them money back in the event of relegation.

Ashley, it's claimed, is not interested in agreeing to such a clause.

Former Chelsea chief executive Peter Kenyon has also been linked with a move for Newcastle.

The club is 14th in the Premier League, and one point above the relegation zone, ahead of tomorrow night's game against Burnley at Turf Moor.