A consortium backed by American group Polygon have broken off talks with Newcastle over a potential takeover of the Premiership club.

Newcastle chairman Freddy Shepherd revealed last month the club were in discussions with the St James' Park Group Limited.

The group - one of two linked with a takeover - requested access to the company's books with a view to making a formal offer.

A statement to the Stock Exchange this morning, however, read: "St. James' Park Group Limited confirms that it is no longer in discussions regarding such possible offer and has no intention of making an offer for Newcastle United PLC at this time."

The Magpies have been linked with a takeover for sometime with the Jersey-based investment group Belgravia also speaking to the club.