Ashley open to Newcastle sale

Newcastle owner Mike Ashley is not actively seeking to sell the club but is open to any suitable offers.

Last Updated: 26/06/13 at 14:04 Post Comment

Mike Ashley: Controversial tenure at Newcastle

Mike Ashley: Controversial tenure at Newcastle

The sportswear tycoon has been widely criticised since he took control of the club in 2007 and his critics were given further ammunition by reports in Wednesday's press suggesting he was ready to sell up.

However, those reports appear to be wide of the mark despite the Sports Direct owner coming under increased pressure to end his tenure at the club following the recent controversial appointment of Joe Kinnear as director of football.

Ashley is believed to be holding out for an offer that will allow him to recoup all of the money he has spent in his six years in charge at St James' Park, a figure of £267m according to the latest Deloitte Annual Review of Football Finance published earlier this month.

Ashley launched his bid for the club in May 2007 when he bought the Hall family's shareholding and had full control in July that year after purchasing the shares of then chairman Freddy Shepherd.

That is reported to have cost the Buckinghamshire-born businessman around £134m but, having failed to undertake due diligence before his takeover, he had to spend a further £100m clearing out existing debts.

Ashley also footed a large proportion of the club's wage bill following their relegation from the Premier League in 2009 to help fund their immediate return to the top flight.

Related News

Most Commented

Readers' Comments

I

really enjoyed this. Thanks F365 for another year of work avoidance - happy Christmas.

megabrow (cufc)
Our Person Of The Year: Alan Pardew

I

m no Sam Fan and this article sums him up beautifully. I always like to imagine that when he watches anything on TV and hears clapping, he stands up and aknowledges the applause, thinking its for him!

cozens
Football Managers On TV: Sam Allardyce

N

ah, Fergie is just having another pop at Rooney. He just wants to put him down whenever he gets a chance. Rooney is by far the best English player. Carrick is not far behind, mind. However, by elevating Carrick like that, Sir is having a dig at Wayne. Fergie is well-known for mind games like that. Good to see he's still feisty.

timbo
Van Gaal will thrive - Ferguson

Footer 365

Jose Mourinho: It's only a matter of time before John Terry gets new contract

John Terry will definitely stay at Chelsea beyond the end of his current deal, Jose Mourinho says.

Chelsea striker Fernando Torres to make permanent move to AC Milan ahead of Atletico Madrid return

Fernando Torres will join Milan permanently on January 5 ahead of his expected return to Atletico Madrid.

Neil Warnock sacked by Crystal Palace after run of one win in 12 games

Neil Warnock has been sacked as manager of Crystal Palace, with Keith Millen placed in charge for Sunday's trip to QPR.

Mail Box

Van Gaal's Half-Term Report Card...

One Man United fan isn't happy with the rate the team is progressing under Louis van Gaal, while the mailbox also wishes Liverpool fans a Merry Mid-Table Christmas...

Hang On, Rafa's Success Is No Fluke...

The afternoon mailbox kicks the morning mailbox's arse after claims that Rafa Benitez has fluked his success. Plus, big talk about Liverpool's progress and lots more...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property