It is also believed that Ashley will move to appoint David O'Leary as manager if he remains at the Magpies.
5 live's Garry Richardson: "My understanding is that there will be developments at Newcastle this week.
"It could result in Mike Ashley deciding not to sell Newcastle if he can't find a buyer at the right price. He might decide to cut his losses and stay as chairman.
"If Mike Ashley stays it could lead to him approaching David O'Leary to be the manager. As always with Newcastle it's ifs and buts but certainly as things stand this morning, it could be David O'Leary and Mike Ashley could be staying."
NU-MAD: O'Leary turned down the job two weeks ago, and there is NOTHING to suggest he will change his mind.
He KNOWS Alan Shearer is the choice of the fans, and he also understands Mike Ashley has a head full of broken toys ... and is libel to change his mind at the drop of a hat.
Trust me on this one ... David O'Leary would not touch the Newcastle job with a barge pole!