Ashley Forced To Put Newcastle Up For Sale
Newcastle owner Mike Ashley has reacted to angry protests by fans during the weekend’s home game against Hull City by saying he is ready to sell the Premier League club.
Ashley has been the subject of increasing calls to resign by fans following the departure of Kevin Keegan as manager after only eight months in charge.
Major protests during Newcastle’s game against Hull City at the weekend appear to have been the tipping point for Ashley, who has decided to put the Premier League club up for sale just 16 months after his £134.4m takeover of the club.
Ashley was advised not to attend the game against Hull due to fears for the safety of him and his family.
The 43-year old Ashley issued an emotional 1,644 word statement on Sunday in which he spoke of his pride at owning the club.
‘I am putting the club up for sale. I hope the next owner is someone who can lavish the amount of money on the club that the fans want.
‘I’m now a dad who can’t take his kids to a football game because I am advised that we would be assaulted. I am no longer prepared to subsidise Newcastle.
‘The truth is that Newcastle could not sustain buying the Shevchenkos, Robinhos or the Berbatovs. My plan and my strategy for Newcastle is different. It has to be.
‘Arsenal is the shining example in England of a sustainable business model. It takes time. It can’t be done overnight. I paid £134m out of my own pocket for the club.
‘I then poured another £110 million into the club not to pay off the debt but just to reduce it. The club is still in debt.
‘Even worse than that, the club still owes millions of pounds in transfer fees. I shall be paying out many more millions over the coming year to pay for players bought by the club before I arrived.’
‘I have put Newcastle on a sound financial footing. It is reducing its debt. It is spending within itself. It is recruiting exciting new players and bringing in players for the future.
‘This will not be a fire sale. Newcastle is now in a much stronger position than it was in 2007. It is planning for the future and it is sustainable.
‘I am very conscious of the responsibility that I bear in owning Newcastle United. Tough decisions have to be made in business and I will not shy away from doing what I consider to be in the best interests of the club. This is not fantasy football.’
Speculation as to who will buy Ashley out and takeover Newcastle is no set to dominate proceedings. Indian businessman Anil Ambani had been linked to a bid but publicly ended his interest last week while Chinese billionaire Xu Rongmao has also been rumoured to be interested in taking over the club.
