Ashley names his price

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More than a week after it emerged that Ashley was looking to get out for the second time since he took control, the Magpies issued an official statement setting a price as Keith Harris, chairman of investment bankers Seymour Pierce, continued his search for buyers.

"The board of Newcastle United can today confirm that the club is for sale at the price of £100million," the statement read.

"Interested parties should contact Newcastle United (or Keith Harris at Seymour Pierce) for further details.

"The club will not be making any further comment at the present time."

The announcement came as no surprise, with Ashley's desperation to offload the club he bought for £134.4million in May 2007 growing by the day.

However, the continuing uncertainty is proving hugely disruptive to the club's preparation for the new season and the challenge of returning to the Barclays Premier League at the first attempt.

Alan Shearer, who has indicated a willingness to take on the role of manager on a permanent basis, is due to return from a short break later on Monday and will be looking for an early answer over whether or not he is wanted after several rounds of talks.

However, there is little prospect of Ashley and managing director Derek Llambias making hard and fast decisions while the ownership issue remains unresolved.

There are understood to be several interested parties, with Harris having travelled to the Middle East last week to once again court offers from potential purchasers in Dubai and Oman.