Last night's news that the Malaysian consortium which visited the club last week had made a return visit, this time with one of the bigger players in tow, suggested the sale process is gathering pace.

The identities of the men involved remains a closely-guarded secret, although there was fresh speculation today that billionaire Ananda Krishnan, one of the wealthiest men in south-east Asia, could be involved.

But whoever is behind the move to buy the club, Malaysian sports minister Datur Ahmad Shabery Cheek believes a successful conclusion to the ongoing negotiations could only be good for his country.

He said: "We should be proud if it really happens that a Malaysian is involved in such a huge transaction.

"It's not impossible and I hope it goes through. It can have a big impact on the development of Malaysian football."

The clandestine nature of the sale, which is being conducted by investment bank Seymour Pierce, means it is not known which of the parties to have expressed an interest in the Magpies are among those who have met Ashley's asking price of £100million.

Managing director Derek Llambias, who is understood to have once again accompanied the Malaysians on their tour of the club, just as he did last Thursday, confirmed that "more than two" of the consortia had tabled offers amounting to that, although the veil of secrecy surrounding the discussions means only those involved know who the main players are.

An American-based group is also thought to have visited the club, while the Singapore-based Profitable Group and former chairman Freddy Shepherd have held talks with Pierce.

Several of the consortia are understood to be keen to appoint Alan Shearer as manager, although until a sales purchase agreement is signed, no-one will be able to do that.

The new Coca-Cola Championship campaign gets under way in a little more than four weeks' time and, while the players are now well into pre-season training, there is much to be resolved behind the scenes before the big kick-off.

Shearer has already drawn up plans to rebuild the squad, but they would have to be approved by a new owner, who could alternatively decide to look elsewhere for a manager instead.

In the meantime, players and fans alike are growing increasingly frustrated.

Indeed, a survey of season ticket holders carried out by the city's evening newspaper, the Evening Chronicle, produced some alarming statistics.

More than 52% have not renewed their season tickets, while 48% admitted they may not attend St James' Park at all this time around.

Ashley's departure was seen by a massive 95% as the factor which could persuade them to return, while 65% would consider renewing if Shearer was appointed.

Meanwhile, Magpies midfielder Jonas Gutierrez was today heavily linked with a move to Italian side Roma - although sources on Tyneside insisted no bid has yet been made.