Ashley puts Newcastle up for sale

LONDON: Newcastle owner Mike Ashley is ready to end his controversial reign after putting the English Premier League club up for sale.

Ashley has been a polarising figure at Newcastle since taking over at St James’ Park in 2007 and the sports retail tycoon has decided now is the time to step down.

Newcastle have been relegated from the Premier League twice in the Ashley era, with the 53-year-old angering Magpies fans with his failed managerial appointments and his decision to sell naming rights to the club’s historic stadium.

Ashley has frustrated current Newcastle boss Rafa Benitez by failing to back the Spaniard in the transfer market.

Benitez has publicly complained about Newcastle’s spending on several occasions since leading them to promotion from the Championship last season, with Ashley responding that he doesn’t have the cash to compete with superpowers like Manchester City, Chelsea and Manchester United.

Now Ashley, who paid £134mil

( RM745mil) for Newcastle, reportedly hopes to find a new owner by the end of the year following the formal announcement of his sale plan.

“As one of the Premier League’s oldest and best supported football clubs – and for the benefit of their many fans and supporters in the UK and across the world – Newcastle require a clear direction and a path to a bright and successful future,” a Newcastle statement read.

“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 their history, their present ownership have determined that it is in the best interests of Newcastle and their fans for the club to be put up for sale.”

Speculation over Newcastle’s future was ramped up after the appearance of financier Amanda Staveley at their match against Liverpool earlier this month.

After initially trying to win over Newcastle fans by sitting with them at away matches – the Londoner was often pictured in a Newcastle shirt drinking beer with supporters – Ashley spent far less time at the northeast club once the atmosphere soured in recent years.

He unsuccessfully cycled through a host of managers in a bid to transform Newcastle’s fortunes, with Kevin Keegan, Joe Kinnear, Alan Pardew and Steve McClaren among his hires.

Newcastle are currently ninth in the Premier League after Sunday’s 2-2 draw at Southampton. — AFP