Premier League club Newcastle United up for sale

It is believed Ashley is eager to complete a sale before the new year.

The owner of Newcastle United Football Club Mike Ashley has announced that the historic club is up for sale, and he hopes that a deal will be struck by Christmas, according to the Guardian.

Part of the statement read; “As one of the Premier League’s oldest and best supported football clubs – and for the benefit of its many fans and supporters in the UK and across the world – Newcastle United requires a clear direction and a path to a bright and successful future“. He did the same following fan protests in September 2008, taking it off the market in the December.

He said in 2016 that he “regretted” buying the club.

Newcastle have been relegated twice since Ashley took charge in 2007. Their latest accounts – up to 30 June 2016 and before the club’s relegation to the Championship – showed a profit of £900,000 and turnover of £126m in 2015-16.

The club said they were willing to listen to offers that would be capable of “delivering sustained investment” toward achieving their ambitions in the top flight.

“That would allow seriously interested parties to put themselves forward”. However his ownership was a turbulent one, marked by protests from fans and hard relationships with various managers.

Those reports are likely to die down if new ownership is found for Newcastle, with Ashley looking to have a deal completed by Christmas and an nearly certain profit on the £134 million he paid for the club in 2007.

Newcastle manager Rafael Benitez is a hugely popular figure among the fanbase after restoring them to the Premier League this season, where they have made a solid start.

Fans will also celebrate the news as it logically increases the chances of popular manager Rafa Benitez staying for the long term.

“Our intentions are to see if the club can be bought by new ownership by potentially Christmas”.

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