Buy-out problems for Magpies

Newcastle owner Mike Ashley has not received "a single credible bid" for the club but insists he does not regret buying the Magpies.

The businessman has been trying to sell Newcastle since the middle of September but the world financial downturn and the club's perilous position at the bottom of the Premier League seems to have conspired against his plans.

Ashley told the News of the World: "I have not had a single credible bid."

So-called football super-agent Pini Zahavi's has been credited with an interest but Ashley has played down interest from his consortium.

"Someone told me they had been interested in Portsmouth and West Ham," added Ashley.

"Why would we be third on the list? We are a much bigger club than those two."

Ashley now looks set to stay on until at least the end of the season and recently installed interim boss Joe Kinnear for that time frame.