Kieron Dyer says he would "love" to see a takeover at Newcastle United.
Current owner Mike Ashley has been looking to offload the club for some time.
However, a proposed sale to a Middle East consortium involving Amanda Staveley and Saudi Arabia’s Public Investment Fund recently fell through after the Premier League did not approve or reject their approach during the owner’s and director’s test.
There has been fresh speculation after Jamie Reuben stepped down from his role of director at Queens Park Rangers.
The 33-year-old financier had been expected to take up a role on the board at Newcastle had the aforementioned takeover gone through.
In the meantime, manager Steve Bruce is leading the Magpies into the 2020-21 campaign.
The team sit 14th in the Premier League table after taking eight points from their opening six league matches.
Jacob Murphy's late free kick earned them a 1-1 draw with Wolverhampton Wanderers at Molineux on Sunday.
Dyer was on Sky Sports pundit duty for the match - and addressed his old club's prospects afterwards.
"I think mid-table is a success for Newcastle," said the former England midfielder.
"I've been quite impressed with their recruitment this season.
"But three of the four players (Callum Wilson and Ryan Fraser from Bournemouth, and Jamal Lewis from Norwich City) have come from teams that have just been relegated - that's just where Newcastle are at the moment.
"I'm just one of these people - as an ex-Newcastle player and a fan - I really want this takeover.
"I don't know what is happening or if there is ever going to be a takeover but I'd love a takeover to happen and for someone to inject real money and try to make the club a force again, because when Newcastle are entertainers and up in the higher parts of the league, with that fanbase, it makes the league miles more exciting."
