Newcastle United Owner Mike Ashley Puts Club Up for Sale

Newcastle United confirmed on Monday the club has been put up for sale by owner Mike Ashley. 

The Magpies released a statement on their official website revealing St. James Holdings Limited is intent on selling. Here's a section of the bulletin:

"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.

"To give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level, at what is an important time in its history, its present ownership has determined that it is in the best interests of Newcastle United and its fans for the club to be put up for sale."

Ashley has been in charge of Newcastle since 2007 and has been a figure of controversy at St James’ Park, with supporters having previously protested against his ownership. 

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As noted by Jack de Menezes of the Independent, fans have previously been unhappy with a lack of investment in new players and the speed at which the club change manager. During Ashley’s ownership, the club have twice been relegated from the Premier League.

According to De Menezes, it’s noted the owner has been asking for around £400 million before agreeing to sell, although now he may be willing to cash in for around £200 million.

Alan Shearer, the club’s all-time record goalscorer, was clearly pleased when the news was announced:

However, football journalist Kristan Heneage isn’t quite sure the announcement is significant based on Ashley’s past; as noted by BBC Sport, he’s twice made it clear he wanted to sell in 2008 and 2009:

Per De Menezes, speculation about a potential sale by Ashley was piqued during Newcastle’s recent home game against Liverpool, when financier Amanda Staveley was pictured in the directors’ box at St James’ Park.

After slipping into the Championship after a disappointing campaign in 2015-16, Newcastle are back in the top flight again under the guidance of manager Rafael Benitez. After a strong beginning to the campaign, they find themselves in ninth position in the table.