Ashley has been in contact with Middle East investors in order to sell the club.
One source told The Sun: “In reality, Newcastle have been up for sale for the last six months.
“If there had been interest from Dubai or Abu Dhabi it would already have surfaced.
“What makes it even more difficult is that Newcastle do not appear as a very saleable asset at the moment.
“The club has no manager, the fans are protesting and the team are struggling.”
Dubai investment group has denied reports that they are in talks with Ashley.
DIC’s chairman Mohammed bin Rashid Al-Maktoum said: “We have not had any contact. I am not interested in any English club right now.”
