ananda-krishnanBillionaire Ananda Krishnan is reported to be closing in on a deal to buy recently relegated Newcastle United.

The Sun reported, the deal estimated to be RM547 million (£95million). Athough, other consortia remain in the running to buy the crisis club, but Krishnan is the favourite to take control after meeting its current owner.

Ananda Krishnan is also believed to favour Alan Shearer to be the club’s manager.

Newcastle United’s 16-year stay in the top flight ended on May 24, after defeat at Aston Villa.

Damien Duff’s unfortunate own goal – deflecting in Gareth Barry’s 20-yard shot seven minutes before the interval – ensured Alan Shearer’s mission to save Newcastle from relegation ended in devastating failure.