The Sunday Express get their figures from City sources, and three groups, one including former owner Freddy Shepherd, are interested in launching a bid.
But any new takeover group or new investors would also need to take on a debt of £90m.
That puts a valuation on Newcastle United of £240m, which is £40m more than New England Sports Ventures paid for Liverpool.
Mike Ashley went public two weeks ago to say he would not be selling the club, but rumours have been spreading that he wants to cash in his assets.