The Nigerian consortium hoping to buy Newcastle has reportedly presented a bid to the club.

The group, one of several interested in the club, are the first to announce they have tabled an offer for the Magpies.

UK-based businessman Chris Nathaniel is the individual fronting the bid, but he has refused to divulge details concerning the amount.

"We can't at this stage, that's confidential between ourselves and Newcastle, but a bid was put in on Friday evening," he said.

"There's been no timeline given by Newcastle but we hope it will be sometime soon.

"What they don't want to do is spend a load of money to buy the club and have no money to buy players and to work on what is a quite a troubled infrastructure."

Current owner Mike Ashley put the club up for sale following Kevin Keegan's departure and insists he will hold out for the right price, but Nathaniel stated the Nigerian group would not get involved in a bidding war.