Mike Ashley expects to receive two Newcastle takeover bids this week

Mike Ashley expects to receive two bids for Newcastle United this week.

If a deal can be clinched, the takeover could be completed within the next fortnight, with caretaker-boss Alan Shearer discovering whether he has a long term future at St James'.

Owner Ashley has placed a £100million price tag on the club.

Neither bid is expected to meet that amount, and Ashley may have to accept an offer in the £80m range if he is to move on quickly.

Former chairman Freddy Shepherd is leading one of the takeover groups.

The other is believed to have Geordie roots, but involve overseas finance.

The rivals have conducted due diligence of the club's finances, so detailed talks with Ashley and his advisers should be straightforward - if a bid is accepted.

Shepherd has made it clear that he would want Shearer to stay as manager.

But there are some major issues for the new owners to resolve beyond the manager's office.

Slashing a massive pay roll is a critical issue.

The departure of out-of contract strikers Mark Viduka and Michael Owen only scratches the surface.

To stand any chance of turning around the club, the new owners would need to allow their manager to ruthlessly dismantle the current, failed squad.

Some expensively recruited players will be shipped out at top speed -providing new clubs can be found. Striker Obafemi Martins, recruited for £10.1m from Inter Milan three years ago, is one who is wanted.

Ambitious Stoke City are ready to take the 24-year-old Nigeria international.

And it will amaze many Toon fans that calamity defender Fabricio Coloccini, who arrived from Deportivo La Coruna last summer for £10.3m, is set to return to Spain.

Newcastle will have to sell the Argentina centre-back at a loss.

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