The Belgravia Group has revealed discussions are continuing with Newcastle United about a possible takeover of the Premiership club. The club confirmed they had been in talks with the Jersey-based firm but as yet had not received a formal proposal.
"Talks are continuing with Newcastle United and we are keen to do a deal," a spokesman for Belgravia told BBC Sport.
Reports at the weekend suggested that Magpies chairman Freddy Shepherd wants to assume sole control of the club.
Shepherd already owns 28% of the club, while former chairman Sir John Hall has a 29% share and his son Douglas owns a 12% stake.
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The Newcastle chief has been under pressure to leave his post with fans blaming him for the club's current predicament.
The Magpies, led by manager Glenn Roeder, lie third from bottom in the Premiership having won just two league games this season.
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