/world sport
(CNN) -- A consortium of Nigerian businessmen have tabled a formal bid for Newcastle United as reports emerged owner Mike Ashley had dramatically lowered the asking price.
Newcastle United owner Mike Ashley has put the club up for sale after falling out with fans.
Ashley, the billionaire owner of the English football club, had reduced his asking price from £450 million ($815 million) to a figure in the region of £280-£300 million ($505-$540 million), the BBC reported Tuesday.
Ashley purchased Newcastle for £134 million ($242 million) last year but has decided to sell after fans vehemently protested following the resignation of manager Kevin Keegan.
Ashley, who once traveled with fans and famously bought them drinks, has fallen so far from favor that he has not been seen at the team's ground, St James' Park, since Keegan's resignation at the start of September.
Last week Joe Kinnear, the former Wimbledon and Nottingham Forest manager, was a surprise choice as the caretaker manager.
The Nigerian consortium has promised to reinstate Keegan.
However, reports have indicated several parties remain interested in buying the club.
| Most Viewed | Most Emailed |
From the Blogs: 
Sit tight, we're getting to the good stuff
