x Abu Dhabi, UAE Thursday 20 July 2017

Ashley takes Newcastle off the market

The Newcastle United owner Mike Ashley has confirmed the Premier League club are no longer for sale after failing to find a buyer.

Owner Mike Ashley has decided to give up on finding a buyer for Newcastle United.
Owner Mike Ashley has decided to give up on finding a buyer for Newcastle United.

The Newcastle United owner Mike Ashley has confirmed the Premier League club are no longer for sale after failing to find a buyer. The billionaire sportswear magnate has decided to push ahead with his own plans for the club following a three-month campaign to find a purchaser. Ashley engaged the services of investment bank Seymour Pierce after deciding to call it a day at St James' Park in September following mass protests against his regime in the wake of Kevin Keegan's departure as manager. Ashley launched a £134.4million (Dh720m) takeover of the club in May last year and has since invested around a further £100m in servicing the debt burden and attempting to strengthen the playing squad. However he fell foul of the fans in September after the popular Kevin Keegan quit as manager saying he did not have full control over the buying and selling of players.

*PA Sport