CHRIS Nathaniel has slammed suggestions that his Nigeria-based consortium is incapable of completing its offer to buy Newcastle United.

But while Mike Ashley has indicated he is willing to sell for the £300m that Nathaniel’s NVA Management are understood to have offered on Friday, city sources claim two other overseas consortia are more realistic bidders.

Seven different groups have expressed an interest in buying Newcastle, with organisations from South Africa, China and the United States having joined Nathaniel’s Nigerian group in approaching Seymour Pierce, the investment bank that has been assigned the task of sifting through potential investors.

Seymour Pierce officials were in contact with Ashley yesterday, and lawyers working on the sale were instructed to release confidential financial information to at least two interested parties.

The information is insufficient for a group to carry out a full process of due diligence, but it will enable accountants to gain a more detailed impression of Newcastle’s financial position.

That could lead to more formal discussions within the next two weeks, although potential buyers will be asked to provide concrete proof of their funds before they are permitted to carry out a full audit of the club’s books.

NVA Management are understood to be one of the two groups to have received clarification on a number of aspects relating to the financial commitments involved in any takeover, with Ashley still to make a final decision on his preferred choice of buyer.

While the sportswear magnate will not sell unless he is able to recoup the £250m he has invested in buying out the former regime and reducing Newcastle’s debt, sources close to the negotiating process claim he will not sell to the highest bidder unless guarantees relating to the level of financial backing beyond the purchase price are met.

That could rule NVA Management out of the running, as Nathaniel has previously admitted that his consortium has lowered its valuation of the club because of concerns relating to its ability to finance transfers and debt reduction in the future.

However, the London-based businessman has denied widely-circulated suggestions that his backers do not possess the money needed to turn his ambitious plans into reality.

“I wonder why people think it is not authentic,” said Nathaniel. “For the information of those who want to know, we lodged our official bid on Friday and we are very serious about it.

“It is now for the owner, Mike Ashley, to accept or reject the bid, but we are confident and hopeful it will sail through.”

While previous reports had claimed Ashley was demanding £450m before he would relinquish sole control of the Magpies, the inflated figure was never promoted by the current Newcastle regime as being set in stone.

Any offer above £250m will be considered, and a South African consortium calling itself the “New Newcastle United”

is expected to lodge a formal offer before the weekend.

The ongoing bidding process is likely to be protracted, but while Ashley attempts to stabilise Newcastle’s position off the pitch, interim manager Joe Kinnear knows time is of the essence in terms of restoring the club’s fortunes on it.

Kinnear took charge of his first training session at Newcastle’s Longbenton training ground yesterday, overseeing a series of seven-a-side games in preparation for Sunday’s trip to Everton.

The former Wimbledon manager was criticised for giving his players the day off on Monday, but claims his actions enabled him to hit the ground running yesterday.

“What’s all the fuss about?

It gave me the chance to go in to the training ground (on Monday) and have a long chat with all my coaching and backroom staff,” said Kinnear, who hopes to have fullback Jose Enrique available for the trip to Goodison Park.

“As a result, I knew all I had to know when the players came back in.”

Mark Viduka did not train yesterday, and the striker is expected to travel to his native Australia next week in a lastditch attempt to stave off an operation that would keep him on the sidelines for the rest of the year.

Viduka, who has been linked with a possible move to Australia’s A-League next summer, is suffering from a long-standing Achilles injury that has prevented him from making a single appearance this season.