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

Lee Charnley and Mike Ashley
Lee Charnley and Mike Ashley

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.