NEWCASTLE United could quit the Stock Market and go private.

Its two largest shareholders, Douglas Hall and Freddie Shepherd, who control 50 per cent of the club's equity, are thought to have grown frustrated at the club's poor share price.

Newcastle, which is due to report its full year results today, has a market capitalisation of £40m, a far cry from a value of £190m when it floated on the market in April 1997.

Negative sentiment in the football sector is believed to be prompting a number of other clubs to look at leaving the stock market for private ownership.

A private consortium is already believed to be close to completing a deal to buy Leicester City Football Club and take it off the market.

Newcastle, like most other premier league football clubs, barring Manchester United, have been unable to turn increasing media income into a an improved bottom line performance, because of escalating player wages and transfer fees.

Newcastle, managed by former England boss, Bobby Robson, currently has star names like Alan Shearer and French international Laurent Robert on its books.

A spokesman for the Newcastle United board said: "No discussions about taking the club private have been held at board level."

Meanwhile, Manchester United has underlined its firepower on the pitch by revealing that pre-tax profits for the year to July had risen by 30 per cent to £21.8m.

United secured their sixth Premiership title in eight years last season but manager Sir Alex Ferguson is due to step down in May.

The club confirmed it had already drawn up a shortlist and added it would begin the "critical search" for a replacement at the start of next year.

Mr Hawkins added: "There's going to be tremendous pressure on whoever takes over to keep up standards on the field."

The price of success was demonstrated by the rewards for reaching the quarter-finals of the Champions League last season.

Profit from the campaign reached £19.2m and accounted for 60 per cent of United's operating profit.

The figures also showed United's staff costs, which include players' wages, had risen by £5.2m to £50m, with the footballing side accounting for the vast majority of the increase.

The club's major signings during the period, Ruud van Nistelrooy, Juan Sebastian Veron and goalkeeper Roy Carroll, also took net transfer expenditure to £46.8m from £13.6m a year earlier.

United said the impact of these signings would be spread across current and subsequent financial years.

It was capable of further increasing its revenue stream to cope with the higher wage bill.

The club has already announced a strategic alliance with Nike worth £303m, and added it had reached agreement with Bank of Scotland and Zurich Financial Services to market a range of products under the MU Finance brand.