By Russell Edge
Newcastle United have confirmed that the club has been put up for sale by owner Mike Ashley.
The Sports Direct supremo, who has been at the helm of the Magpies since 2007, heads the company which owns the club St James Holding Limited.
In an official statement put on on the club’s official website, as well as on their official Twitter account, the company have confirmed that they are looking to secure the sale of the Tyneside giants “in the best interests” of the club and its fans.
— Newcastle United FC (@NUFC) October 16, 2017
The statement outlines that the move to sell has been made to ensure that the club receives the necessary investment to progress forward and move to the “next level” in the future.
It also reveals the surprising detail that potential investors will be allowed to defer “substantial payments” in order to ensure that the incoming party can substantially invest in the club, which will include in the transfer market.
The news could be potentially huge for the club, with fans likely to be welcoming the imminent departure of Ashley.
During his 10 years in charge of Newcastle United, the businessman has endured a mixed relationship with the fan base at St James’ Park thanks to several questionable decisions.
He fell out of favour with the Toon Army after his public fall out with Newcastle icon Kevin Keegan, while he renamed St James’ Park the Sports Direct Arena, before it was changed back in a deal agreed with then chief sponsors Wonga.
In other Newcastle United news, Alan Pardew has lashed out at this Magpie for his antics against Southampton.