There is 'renewed interest' in Premier League clubs like Newcastle from US and Asian investment communities, according to the director of a leading football club acquisitions company.
The Magpies have been up for sale since October, 2017 and Mike Ashley remains Mike Ashley open to end of season sale of Newcastle United, and why club wasn't sold in January .
Ashley is not one for major disposals unless there is a healthy profit to be made, as was the case with Sports Direct's sale of Dunlop to Sumitomo Rubber Industries in 2016 or the £44m disposal of the sportswear giant's London offices to the University of Westminster a year previously.
So far, no one has been prepared to stump up the cash to complete a complex deal where location, additional investment in facilities and Sports Direct's advertising presence post-takeover have all been issues. Not to mention Newcastle's Premier League status at various points.
But the Magpies remain an attractive proposition for the right buyer - and not just because of the club's undoubted potential under Rafa Benitez and the magic of St James' Park.
Mike Ashley open to end of season sale of Newcastle United, and why club wasn't sold in January
Although Newcastle's financial accounts for the year ending June, 2018 are overdue, and have yet to be published, according to the Deloitte Football League, the Magpies earned an impressive £178.5m last season.
That figure broke down into £126.4m in broadcast revenue, £28.2million in commercial earnings and £23.9m from match day profit.
In contrast, in Newcastle's financial accounts for the year ending June 30, 2017, the club were still counting the cost of relegation and trying to get back into the top-flight at the first opportunity.
Newcastle brought in nine new players - Christian Atsu, Ciaran Clark, Mohamed Diame, Jesus Gamez, Isaac Hayden, Grant Hanley, Achraf Lazaar, Daryl Murphy and DeAndre Yedlin.
That resulted in a wage bill totalling £112.2m, including promotion bonuses, which was the highest ever seen in the Football League and was comparable with many Premier League teams that season.
A desire to stay for years, but 'massive offers' to leave: Guillem Balague on Rafa Benitez's future
But, crucially, the Magpies returned to the top-flight and were able to take their share of a lucrative, nine-figure television deal.
That TV deal is one of a number of reasons why several Premier League clubs, including Brighton, Southampton, Burnley, Crystal Palace and Bournemouth, have posted healthy profits in recent months. Something that has piqued the interest of would-be buyers across the world.
"There is a renewed interest in Premier League clubs from within the Asian and US investment communities," Doug Harmer, director of leading football club acquisitions company Oakwell Capital, told the Daily Mail of the general picture at the moment.
"While domestic television deals have plateaued, the international TV deals have gone up and are expected to continue to rise in the long-term.
"Reputable and well-regarded institutions can see potential for further growth at Premier League clubs."
One of reasons Ashley bought Newcastle was to market Sports Direct's goods in the Far East and the club are making a belated return to China this summer.
Newcastle's participation in the Premier League Asia Trophy comes at a time when the club have an Asian shirt sponsor, Fun88, and two players, Ki and Yoshinori Muto, who are idolised in their respective nations of South Korea and Japan.
Newcastle United fans show Paul Lambert no mercy after Ipswich relegation
What Kevin Keegan told John Burridge after he stunned Newcastle on loan at Man City
