Newcastle United have rubbished reports that it could be bought out by a construction company run by the family of terrorist Osama bin Laden.

A newspaper article yesterday claimed that the Saudi Binladen Group, whose chief executive is Osama's half-brother Bakr bin Laden, was the shock front-runner to buy the club from Mike Ashley, the owner.

The claims came just a day after a rumour that InterMedia, a New York finance company, were tabling a £420 million bid for the club, which has been denied by both parties.

"At a time when everyone at Newcastle United is working hard to prepare for the new season ahead, it is annoying that we have to correct inaccurate stories," Derek Llambias, the club's managing director, said.

"Whoever is putting these stories around is clearly trying to destabilise the club. Those actions speak louder than any words.I'm sure supporters see these stories for what they are – utter nonsense."