The Magpies are said to be the subject of a takeover battle.
A Jersey-based investment company, Belgravia Group, have reportedly made an approach to buy out Sir John Hall. According to The Sunday Times, the club are in talks with Belgravia, which runs a range of investments including property and equity funds.
A spokesman for the group told the paper they saw the possible acquisition of Newcastle as "an attractive opportunity" and added: "It is at an early stage and nothing is finalised."
The paper claims the group have held talks with former club chairman Sir John Hall, who controls 28.8% of the quoted club. His son Douglas owns 12% of the company with Magpies chairman Freddy Shepherd owning a 28% stake.
Shepherd has recently being adding to his interest in the club which is believed to be worth around £81million.
Belgravia Group are thought to manage more than £1billion for wealthy investors.