Soccer: Seven potential buyers have been sent details of Newcastle's finances as moves to sell the club progress.

It is understood the prospective owners have each been provided with a prospectus of sale by bankers Seymour Pierce, who are acting on behalf of current incumbent Mike Ashley.

All seven have been required to sign a confidentiality agreement covering the sensitive information included in the document.

The move came as speculation over the parties interested in taking the club off billionaire Ashley's hands mounted on Tyneside.

A report in the city's Evening Chronicle today claimed that a South African group would offer Kevin Keegan a stake of up to 10 per cent in the club if he returned as manager.

They and the Nigerian consortium which claims to be in the process of tabling a £200million offer, have emerged as two of the contenders.

Both groups are made up of as yet unnamed businessmen, but the rumour mill in South Africa in particular has gone into overdrive in recent days.

Representatives of billionaire Johann Rupert, the man behind Swiss-owned luxury goods company Richemont, and multi-millionaire Vivian Imerman, a former owner of Del Monte who has since bought into Scottish Whisky producer Whyte and Mackay, have denied any interest.

There was no comment from investment holding firm Bidvest over links with its founder, Brian Joffe, a man with a reputation for taking over failing companies and reviving them.

That is an ability attributed to the South African consortium currently looking at Newcastle.

Friday's appointment of Joe Kinnear as manager until the end of October suggested a timeframe for the sale, although whether or not it can be completed within a matter of weeks remains to be seen.

Ashley decided to sell the club after finding himself the target of fans' protests in the wake of Keegan's resignation last month.

Keegan walked out after an angry bust-up with managing director Derek Llambias, citing boardroom interference in the club's summer transfer policy.

Midfielder James Milner was sold to Aston Villa for £12million despite Keegan's repeated insistence he wanted to keep him, while there were also moves of offload high-earners Michael Owen, Alan Smith and Joey Barton, again against the manager's wishes.

In addition, only Xisco and loan signing Iganacio Gonzalez were added to a squad Keegan insisted needed significant strengthening as the window closed.

Injuries and suspensions since have demonstrated the validity of the 57-year-old's concerns, and Newcastle currently lie one off the bottom of the Premier League table and have lost each of their last five games.

Ashley bought the club for £134.4million in May last year, and has since poured a further £110million into it.

He made an abortive trip to Dubai in an attempt to offload the business in the immediate aftermath of the demonstrations, a mission which led to claims he was seeking an asking price of £481million.

However, it is understood that figure could now be around £300million.

-PA