Keith Harris, chairman of investment bank Seymour Pierce and the man tasked with selling the club, revealed that out of seven groups who had expressed an interest, just two were left in the running.
Newcastle owner Mike Ashley said money was not his motivation, and he would sell to the party he believed would be best for the future of the club.
He allegedly wants £250million for the club and we don't know if Ashley is putting the club to auction, or if he seriously is putting the club first.All we know is that both contenders are from overseas.
Harris: "We have two very serious contenders to buy it.
"This the serious interest stage, and if you don't have serious interest you don't have due diligence.
"In a world like this it is no longer people just having a look at the tyres.
"In January we have that month of buying and selling players so I would imagine if I were a prospective owner I would want to own it either in time to have an influence on what happens in January, or at a time when I can assess what has happened in January.
"Mike's position is straightforward, if he can sell it to the right buyer at the right price he will sell it.
"The crisis makes everything difficult, we are all affected by it. Any investment decision you take with a lot of analysis and then a big swallow and a big dose of optimism.
"The contenders know what the ball-park figure is. It's like putting your house up for sale for £200,000 knowing that you will accept £180,000. Has the £200,000 come down to £100,000? We haven't experienced that.
"It's more a question of do I want or need to buy a new house.
"We have had Nigerians that don't exist and South Africans told by the media they were bidding."