Newcastle have denied talk that wrestling legend Vince McMahon is set to buy out Mike Ashley in a sensational £300million takeover, reports the Daily Star.

Billionaire McMahon – chief executive of World Wrestling Entertainement – has been linked with a possible takeover of the Magpies, with reports suggesting he is looking to buy into English football.

McMahon is famous for his flamboyant ringside announcements, and sees the Premier League as the ideal tool to boost WWE’s global profile, as he plans to stage spectacular wrestling bouts at whichever club he purchases.

But Newcastle insist St James’s Park will not be his venue of choice, while the club have not formally commented on speculation that unpopular owner Mike Ashley wants to sell up.

Ashley has not been to a match home or away since September, with his regime consistently coming under fire from angry fans.

Decisions to rename the stadium the Sports Direct Arena, and to hire Joe Kinnear as director of football have come under scrutiny, as well as the clubs sponsorship deal with controversial money lenders Wonga.

Kinnear has since been axed from his role after failing to sign a single player on a permanent deal, and overseeing the sale of former Toon star Yohan Cabaye.

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