It goes from bad to worse for the Newcastle fans. Firstly relegation then the dodgy Yellow kit and now..................David O'Leary as manager 
Ashley lines up O'Leary as boss
Newcastle United owner Mike Ashley is reconsidering his decision to sell the club and may opt to remain at St James' Park, BBC Radio 5 live understands.
It is also believed that Ashley will move to appoint David O'Leary as manager if he remains at the Magpies.
Ashley put the club up for sale in May following their relegation from the Premier League to the Championship.
Local businessmen Barry Moat had emerged as a leading contender to buy the Magpies, who 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.
Ashley paid £134.4m for Newcastle and was reportedly willing to sell for as little as £80m.
t is the second time Ashley has put the Magpies up for sale, having originally taken them off the market in December 2008.
David O'Leary has been out of management since he left his position at Aston Villa in 2006. The former Arsenal and Republic of Ireland defender has also previously managed Leeds United.
Newcastle are currently managed by caretaker boss Chris Hughton after Shearer's temporary role at the club ended following their relegation last season.
Shearer told the BBC on Saturday that he has not ruled out returning once the ownership situation is clarified.
"I'm still in limbo," he said. "I wanted it sorted either way because of my love for the football club. "I'd dearly love the chance to finish what I started last season."
On Wednesday, previous manager Joe Kinnear claimed he had been offered a two-year deal to return as boss by Ashley but rejected the offer as he continues to recover from surgery.
Kinnear, 62, underwent a triple heart bypass operation in February.
Ashley lines up O'Leary as boss
Newcastle United owner Mike Ashley is reconsidering his decision to sell the club and may opt to remain at St James' Park, BBC Radio 5 live understands.
It is also believed that Ashley will move to appoint David O'Leary as manager if he remains at the Magpies.
Ashley put the club up for sale in May following their relegation from the Premier League to the Championship.
Local businessmen Barry Moat had emerged as a leading contender to buy the Magpies, who 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.
Ashley paid £134.4m for Newcastle and was reportedly willing to sell for as little as £80m.
t is the second time Ashley has put the Magpies up for sale, having originally taken them off the market in December 2008.
David O'Leary has been out of management since he left his position at Aston Villa in 2006. The former Arsenal and Republic of Ireland defender has also previously managed Leeds United.
Newcastle are currently managed by caretaker boss Chris Hughton after Shearer's temporary role at the club ended following their relegation last season.
Shearer told the BBC on Saturday that he has not ruled out returning once the ownership situation is clarified.
"I'm still in limbo," he said. "I wanted it sorted either way because of my love for the football club. "I'd dearly love the chance to finish what I started last season."
On Wednesday, previous manager Joe Kinnear claimed he had been offered a two-year deal to return as boss by Ashley but rejected the offer as he continues to recover from surgery.
Kinnear, 62, underwent a triple heart bypass operation in February.
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