Mike Ashley announces intention to sell Newcastle United

Mike Ashley announces intention to sell Newcastle United”

The Premier League club released a statement on Monday confirming the decision on the grounds they need "a clear direction and a path to a bright and successful future".

Newcastle United was already up for sale, so what's new?

Newcastle United have confirmed that the club is up for sale.

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.

Reports have circulated for some time that Ashley has been prepared to sell, with entrepreneur Amanda Staveley one of the main figures linked with a possible takeover.

The Magpies have been relegated twice from the Premier League during Ashley's 10-year reign.

Former club captain and Premier League record goalscorer Alan Shearer welcomed the news on Twitter, along with a number of supporters.

Newcastle are now ninth in the Premier League after Sunday's 2-2 draw at Southampton, but Ashley looks to have realised more investment is needed and he is willing to let a new buyer defer part of the payments to allow funds to be used on improving Benitez's squad. "If that means additional funds being available in the short-term we would seek to accommodate that", Henderson added.

January 2008: Manager Sam Allardyce sacked and replaced by Kevin Keegan.

December 2010: Hughton sacked with club in 11th place in league table.

Ashley bought Newcastle back in 2007 for £134m and has overseen a tumultuous period for the club.

There was tension between Benitez and Ashley during the close-season with the Spanish manager suggesting he was not receiving the backing in the transfer market that he needed.

And Newcastle's fans will hope that comes sooner rather than later to allow the club to move on from Ashley's often controversial time in charge.

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