Newcastle chairman Freddy Shepherd is confident of beating off any bids for control of the club.

Club president and former chairman John Hall has received an approach to sell his holding, sparking suggestions that ownership of the club could change hands.

But Newcastle sources believe Shepherd will reject approaches

A statement was released to the Stock Exchange by Newcastle PLC this morning following speculation over the weekend that American hedge fund Polygon has been working with investment bank UBS for several months on a buy-out proposal.

The statement said: "The board of Newcastle United PLC notes recent press speculation and confirms that it has today been informed by Sir John Hall representing Wynyard (Guernsey) Limited, which owns approximately 28.8 per cent of Newcastle United PLC, that it has received expressions of interest to acquire its shareholding, which may or may not lead to the disposal of its stake.

"A further announcement will be made if appropriate."

Hall's son Douglas, currently deputy chairman at St James', is linked to a further 13 per cent stake, while Shepherd Offshore recently upped its holding to 27.29 per cent.

It was Hall who, 10 years ago, provided Keegan with the then world record £15 million to buy Alan Shearer, and the big spending has continued under Shepherd. PA