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

F

ergie, aren't you supposed to make a beep beep noise when backing up like that?

simonthfc
Ferguson: Club made Moyes decision

S

ome of these are quality! Why you no like him F365?? :(

left right out
The, Erm, 'Best' Of Henry James Redknapp

W

e're our own worst enemy. We're suicidal in defence, and we may just get slaughtered on Sunday. Other than that, I am very pleased with my team.

bob the manc
Van Gaal: We can catch Chelsea

Footer 365

Fabio Cannavaro under investigation over taxes

World Cup winner Fabio Cannavaro is under investigation over a suspected major tax fraud, Italian police have confirmed.

Newcastle manager Alan Pardew lifts lid on disastrous start

Newcastle manager Alan Pardew admits he has been finding life tough after a disastrous start to the season.

Premier League: Chelsea's Loic Remy confident of being fit to face Manchester United

Chelsea striker Loic Remy is hopeful of being fit for the weekend's Sky Live game at Manchester United.

Mail Box

City: Like A Deer Caught In The Headlights

...while Chelsea just live for Champions League nights. That's one view in a mailbox that also includes several happy football fans and looks forward to Michael Carrick's return...

Are There Any Happy Fans Out There?

It seems as if Chelsea, West Ham and Southampton are the only content supporters right now. We have more doom and gloom for you. Who wants good news, eh..?

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