Takeover interest in Newcastle United acquired a new sense of urgency yesterday as the investment company pursuing the club hinted that the January transfer window could play a role in the bid talks.

The Belgravia Financial Services Group from Jersey has been talking to major shareholders Sir John Hall and Freddie Shepherd for many weeks now.

But yesterday the company's London-based spokesman said the fast approaching transfer window would "focus the minds" of all concerned.

And even before that, the plc which owns the club is to hold its annual general meeting (AGM) on Tuesday, December 19, when Mr Shepherd is sure to be questioned on the prospect of a takeover.

But with City rules dictating that a takeover of a public company is likely to take a minimum of three months to complete, even a bid launched tomorrow morning could not be finalised until February at the earliest.

Given this timetable, it was said yesterday that any talk from Belgravia about the importance of the transfer window was "mischievous" as it is not possible for them to gain control of Newcastle United by that time.

The Jersey-based group was expected to launch a £235m takeover earlier this month, but that failed to materialise.

Yesterday the company's spokesman said: "We are still in talks which may or may not lead to a deal but from our perspective we are still very keen to do a deal.

"The transfer window is approaching and I think from both parties' perspective that is something to focus the minds."

He added: "In an ideal world things would happen sooner rather than later but negotiations take time."

And on the January transfer window, the spokesman said: "We are hopeful a deal can get done. The window is important for all Premier League clubs, so is important for Newcastle United, or for anybody who may be in charge at that point. But we don't want to set any dates or timelines. We are trying as much as possible to stick by the rules the stock exchange lays down. We don't want to steer people one way or the other."

He also said Newcastle United's AGM on December 19 was being spoken of as "a key focus date" for news on Belgravia's interest in the club.He concluded: "It is a club with a good infrastructure, a loyal fanbase and a good brand in football. That is something that is attractive to an organisation like ours."

United has been the subject of takeover rumours for months, with former chairman Sir John Hall admitting he has held discussions about selling his 28.5% share in the club. Chairman Mr Shepherd has appeared more reluctant to sell and has increased his share in the club to 28.01% over recent months.

It is clear The Belgravia Group has been talking separately to both Hall and Shepherd.

A spokesman for Newcastle United plc said the company would not be commenting on The Belgravia Group's remarks about the transfer window, due to City rules.

However Mr Shepherd did give a brief interview to the BBC.

The chairman said: "They (Belgravia Group) made a statement in August saying they may or may not make a bid. They can say what they like but they have yet to make an offer and until they make an offer we cannot say anything."