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

O

ne of the conclusions from this list is that Man City should never buy a striker in January - good luck Wilfried Bony....

Savinator
F365's Top Ten Worst January Panic Buys

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

Footer 365

Copa del Rey: Luis Enrqique says Neymar had to be substituted against Atletico Madrid to prevent injury

Luis Enrique says he had to substitute Neymar to prevent him from being injured in an ugly cup tie with Atletico.

Capital One Cup: Nigel Clough praises battling Sheffield United after Tottenham reach final

Nigel Clough was left to ponder what might have been after Spurs dashed Sheffield United's Capital One Cup final dreams.

Capital One Cup: FA charges Chelsea striker Diego Costa over 'stamp' on Liverpool's Emre Can

The FA have charged Chelsea striker Diego Costa with violent conduct over his clash with Liverpool's Emre Can on Tuesday.

Mail Box

Erm... Balotelli To QPR..?

It's an afternoon Mailbox that offers the reaction to the reaction, with a defence for Diego Costa offered, and Balotelli mooted to move to QPR. Plus a silly idea about the Mails...

'Diego Costa Is A Thug.' Sore Losers..?

There is plenty of fallout from Diego Costa's stamps of authority on Tuesday's League Cup semi-final. Plus Blatter, Rodgers' substitutions and stretching the transfer truth...

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