NEWCASTLE United has this morning denied accepting any takeover bid for the club.

The statement follows reports in the Daily Mail which claimed that American financiers Polygon and the United Bank of Switzerland have had a joint bid of £227 million unanimously accepted by the club's board.

It said that the deal was going through a period of 'due diligence' with the takeover expected to be completed earlier in the new year.

The NUFC PLC statement was issued this morning on the club's website. It said: "The Board of Newcastle notes the further press speculation in the Daily Mail today concerning a possible offer for Newcastle United.

"The Board wishes to clarify that it has not accepted any proposals for the Company from any party nor is any due diligence being conducted on the Company.

"Therefore there can be no certainty that an offer will be made, nor as to the terms on which any offer would be made.

"A further statement will be made as appropriate."

The Daily Mail reported that the club's current owners, the Hall family and chairman Freddy Shepherd, would collect £68million in the deal while manager Glenn Roeder would be given a £20million transfer kitty.

Interest in the club had been shown by Jersey-based investors The Belgravia Group, which has been monitoring Newcastle United's financial position for several months.

It was said that the latest bidders would intend to take a back seat in the club - appointing proven football and financial operators to take charge on a daily basis.