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Monday, 16 October 2017

Newcastle owner, Mike Ashley puts up club for sale


Owner of Premier League club Newcastle United, Mike Ashley has put the club up for sale.

The Magpies have been relegated twice from the English top flight during Ashley’s 10-year reign.

“Newcastle United requires a clear direction and a path to a bright and successful future,” a club statement said.

“To give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level, at what is an important time in its history, its present ownership has determined that it is in the best interests of Newcastle United and its fans for the club to be put up for sale.”

Ashley also put the club up for sale in September 2008 following a series of protests by supporters angered by Kevin Keegan's departure as manager.

He took the club off the market in December that year, but announced he wanted to sell again after relegation in May 2009 before again ending his attempt to sell the club five months later.

He said in 2016 that he "regretted" buying the club. 

Ashley bought Newcastle for £134.4m in 2007. Their latest accounts - up to 30 June 2016 and before the club's relegation to the Championship - showed a profit of £900,000 and turnover of £126m in 2015-16.




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