Newcastle United owner Mike Ashley will reportedly accept offers of around £380m to take the club off his hands.

The Magpies have been on the market for the last few years, during which time Ashley is thought to have spoken with several interested parties, including a Chinese consortium who baulked at his £400m valuation last summer following the club's relegation to the Championship.

Newcastle bounced back to the Premier League at the first opportunity, however, and have made a decent start to the new season, sitting fourth in the table having won three of their first five games.

According to The Times, Ashley remains determined to sell and has held talks with "several potential buyers" in recent weeks where he has indicated that he will accept an offer of £380m.

The businessman, who also owns Sports Direct, bought the club for £180m 10 years ago.