MIKE Ashley is hoping to make progress on two different fronts this week as he battles to sell Newcastle United before the start of pre-season training on July 1.

The Magpies owner will hold further talks with the four consortia currently involved in a process of due diligence in an attempt to speed up their prospective takeover of the club. Two of the groups are understood to have submitted initial offers below the £100m asking price Ashley had originally demanded for Newcastle, but neither is in a position to complete a sale within the next 48 hours.

However, a series of discussions are planned for the first half of this week, and both Ashley and managing director Derek Llambias are hoping to have identified their preferred bidder before the end of the week.

That would enable them to enter the final phase of the takeover process, which will involve the drawing up of formal sale documents and effectively rule the three remaining consortia out of the race.

The identity of the two groups to have submitted bids to brokers Seymour Pierce remains a closely-guarded secret – there are suggestions that even Ashley does not who they are at this stage – but it is believed that an Americanbased organisation is furthest through the due diligence process.

Ashley is keen to make further headway this week, but as well as overseeing the ongoing takeover talks, the sportswear magnate will also instruct Llambias to step up his attempts to move some of the highest wage earners off the club’s books. At least one of the groups undergoing due diligence is understood to have raised serious concerns about Newcastle’s financial viability if a number of senior players are not sold during the current transfer window.

Llambias has employed an agency, First Artists, to help move players out of St James’ Park, but despite four weeks having passed since the final weekend of the season, the out-of-contract Michael Owen, Mark Viduka, Claudio Cacapa and David Edgar are the only players due to leave at the start of next month.

Ashley is desperate for some progress, and First Artists will be instructed to focus their attention on the possible sale of some of Newcastle’s foreign players to overseas clubs.

Turkish duo Fenerbahce and Besiktas have expressed an interest in Obafemi Martins, while Atletico Madrid are interested in signing Argentinian centre-half Fabricio Coloccini. Both Jonas Gutierrez and Jose Enrique are also expected to return to La Liga this summer.

Meanwhile, Hull chairman Paul Duffen has confirmed his club’s desire to sign Owen.

The Tigers are ready to offer the former England international a £40,000-a-week deal, with a range of bonuses dependent on his appearances and goals, but it is extremely unlikely that Owen would be interested in a move.

“We’re interested on Michael Owen on the right terms,” said Duffen. “He’s a fantastic footballer. He’s had a few injury problems but we would have to be interested in him.’’