Newcastle United have confirmed that they have received a potential takeover approach from US hedge fund Polygon.
Chairman Freddy Shepherd informed the company's members of the development during yesterday's annual general meeting, and today's announcement formalises that in line with Stock Exchange rules following fresh speculation.
The statement read: 'The board of Newcastle notes the press comment following yesterday's AGM and confirms that St James' Park Group Limited (a consortium backed by Polygon Global Opportunities Master Fund) is one of the parties that has made an approach to the board of Newcastle regarding a possible offer for Newcastle.'
