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28-12-08, 09:32 AM
Newcastle no longer up for sale
Newcastle United owner Mike Ashley
Ashley is now looking to build Newcastle back up again
Newcastle United are no longer up for sale, club owner Mike Ashley announced on Sunday.
Ashley has taken the club off the market and insists he is now "committing to the club as its owner".
He put the north-east club up for sale in September after a backlash from fans upset at the exit of boss Kevin Keegan.
"I am happy to end the uncertainty fans may have had about the [club's] future direction," he said. "I know just how important that is to you."
After failing to find a buyer in the past three months despite what the club claim to be "considerable interest", the billionaire sportswear magnate has decided to push ahead with his own plans.
Ashley had engaged the services of investment bank Seymour Pierce after deciding to end his ownership at St James' Park following mass protests against his regime in the wake of Kevin Keegan's departure as manager.
But, according to Newcastle's official website, he is now set to "allow the club to continue to progress under the new management team led by Joe Kinnear".
Ashley launched a £134.4m 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.
BBC
Newcastle United owner Mike Ashley
Ashley is now looking to build Newcastle back up again
Newcastle United are no longer up for sale, club owner Mike Ashley announced on Sunday.
Ashley has taken the club off the market and insists he is now "committing to the club as its owner".
He put the north-east club up for sale in September after a backlash from fans upset at the exit of boss Kevin Keegan.
"I am happy to end the uncertainty fans may have had about the [club's] future direction," he said. "I know just how important that is to you."
After failing to find a buyer in the past three months despite what the club claim to be "considerable interest", the billionaire sportswear magnate has decided to push ahead with his own plans.
Ashley had engaged the services of investment bank Seymour Pierce after deciding to end his ownership at St James' Park following mass protests against his regime in the wake of Kevin Keegan's departure as manager.
But, according to Newcastle's official website, he is now set to "allow the club to continue to progress under the new management team led by Joe Kinnear".
Ashley launched a £134.4m 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.
BBC