Ashley Set To Stay On At Newcastle

Media reports are now suggesting that Newcastle United owner Mike Ashley is reconsidering his decision to sell the club and may opt to remain at St James’ Park.

Ashley put the club up for sale in May following their relegation from the Premier League to the Championship but has been unable to find a buyer to match his £100m valuation despite another of bids being linked with the club.

Local businessmen Barry Moat had emerged as a leading contender to buy the club, which Ashley bought in 2007.

Moat, an executive box holder at St James’ Park, has previously invested in the club’s academy and also helped to organise former striker and manager Alan Shearer’s testimonial.

However the bid now seems dead in the water after negotiations failed to bring a deal.

Ashley paid £134.4m for Newcastle and was reportedly willing to sell for as little as £80m.

It is the second time Ashley has put the Magpies up for sale, having originally taken them off the market in December 2008.