Newcastle have attracted takeover interest

Polygon-backed St James' Park Group announced it would not make an offer after talks with major shareholders.

But a spokseman for Jersey-based Belgravia said: "We are still in talks and are still hopeful of doing a deal."

Chairman Freddy Shepherd has admitted he is growing impatient with continuing takeover talk surrounding the club.

Former chairman Sir John Hall and his son Douglas are understood to be keen to sell their holding in the club, which amounts to in excess of 40%, but Shepherd has been less willing to relinquish his hold.

Shepherd has been critical of constant speculation about interested parties - particularly the suggestions emanating from the Belgravia camp which suggested in November that they would like to be in control before the January transfer window closes.