Newcastle today dismissed claims that owner Mike Ashley is prepared to sell the club for stg£420million (€528m).

The Magpies found themselves surrounded by intrigue off the pitch at the end of yet another eventful week when it was reported that Ashley had quoted American private equity fund InterMedia Partners a price to buy him out.

Although it is understood there has been contact on an informal level between the parties, the club swiftly denied a valuation which would trigger a sale had been set.

A spokesman said: "It is absolute nonsense."

The response may comfort fans dismayed to read speculation that Ashley could be selling after just 12 months when the club desperately needs stability both on and off the pitch.

The billionaire businessman launched his £134.4million takeover last summer after former chairman Freddy Shepherd had fought off a series of approaches.

Ashley's move, however, was decisive, and once he had snapped up the Hall family's holding in the club, it was only a matter of time before he gained control.

He declared  his intention to build for lasting success by restructuring the club and taking a long-term view about its development.

However, despite repeated assurances that Ashley is not looking to exit with a quick profit, there has been persistent speculation that the club is for sale at the right price.

The new owner has invested heavily - around £100million - to address the club's debt and strengthen the playing staff.

Today's speculation emerged at the end of a week which saw midfielder Joey Barton handed a four-month suspended sentence for assaulting former Manchester City team-mate Ousmane Dabo and manager Kevin Keegan making his first summer signing, Argentina winger Jonas Gutierrez.

In the best traditions of a club rarely far from the headlines, the Magpies have found themselves at the centre of a national debate over whether or not they should sack Barton, while Real Mallorca revealed they are seeking around £12million (€15.1m) in compensation from Jonas after he unilaterally terminated his contract with them.