The Belgravia Group is still pursuing its interest in Newcastle after seeing rivals Polygon pull out of the race to take over the club.
Polygon-backed St James´ Park Group on Thursday announced it would not be making an offer at the moment after holding talks with the major shareholders. However, the Jersey-based Belgravia Group insists it is still involved in negotiations.
A spokesman told PA Sport: "We are still in talks and are still hopeful of doing a deal."
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