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

was there, it was embarrassing - the team looked totally unbalanced from the off, the defence was woeful and when Mikel came off injured it got even worse with nobody in front of them. Up front on several occasions we had opportunities and nobody would shoot - it was a complete farse! On the back of Salah's performance I'm glad there is talk of getting shot...

Fly1ngh1gh
Cup defeat shames Mourinho

G

reat to see Tommy Rosicky getting some love. A wonderful player. Such a pity we lost so long to injury. I was so excited when we signed him, this resurgence only makes the absences seem more of a lost opportunity.

cheshire-gooner
16 Conclusions: FA Cup Fourth Round Weekend

A

pparently Chiles has blamed Twitter trolls for his exit. Proof that even the worst things can get great results at times.

cheshire-gooner
Adrian Chiles to leave ITV

Footer 365

Dutch FA president Michael van Praag to challenge Sepp Blatter for FIFA top job

Dutch FA president Michael van Praag is to stand against Sepp Blatter for the FIFA presidency.

Scottish football: Charlie Telfer upbeat over Dundee United's cup chances this season

Charlie Telfer believes he could end his first season at Dundee United with at least one cup winner's medal.

Capital One Cup: Sheffield United boss Nigel Clough hopes to upset Tottenham

Sheffield United manager Nigel Clough is keen to cause another upset and beat Tottenham to the Capital One Cup final.

Mail Box

You're Man Utd, For Crying Out Loud!

Defending a 0-0 draw with Cambridge on the grounds that other teams lost to lower-league opposition is not befitting of Man United. We're inclined to agree with Mailboxers...

A Massive Mailbox On A Weekend Of Wonder

We unsurprisingly have plenty of mails on a wonderful FA Cup weekend, including thoughts on Palace, Van Gaal, Phil Jones, Chelsea, Mourinho and Yaya Toure...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company