Newcastle United could be in the hands of new owners by the 'end of next week' after their legal dispute with former manager Kevin Keegan was resolved.

"King Kev" won his case against the Magpies for constructive dismissal on Friday with an independent arbitration panel convened on behalf of the Premier League ruling that he is awarded £2million in damages.

And now that has been resolved, BBC Sport claims that a number of interested parties have stepped up their interest in purchasing the North East giants, who are currently top of the Championship.

Tyneside businessman Barry Moat is among one of three reported contenders to seal a takeover of the club, provided he can match current owner Mike Ashley's £100million asking price.

In August, life-long Newcastle Moat was given extra time to persuade Barclays Bank he was able to service the the St James' Park outfit's £39million overdraft and he now appears the favourite to complete a buy-out.

Moat is understood to want Alan Shearer to return as manager if his bid is successful, although he has been impressed with the job that caretaker boss Chris Hughton has done under difficult circumstances to say the least.

Sports retail magnate Ashley bought the club in 2007 for £134.4million but has endured a torrid time in charge with fans holding him responsible for the club's demised and relegation from the Premier League last season.