Under-fire owner Ashley willing to sell Newcastle United
Kevin Keegan was frustrated with the money provided by Mike Ashley for transfers.
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Sunday, 14, Sep 2008 09:08
Mike Ashley has revealed he will sell Newcastle United because he fears for his family's safety.
Ashley has become a hate figure on Tyneside after Kevin Keegan quit as manager claiming he had no control over transfers.
Furious Magpies fans protested against Ashley and director of football Dennis Wise at yesterday's 2-1 loss to Hull City.
Now Ashley, who has pumped £250 million into the club, wants to sell just 16 months after his takeover.
"I am now a dad who can't take his kids to a football game because I am advised that we would be assaulted," Ashley said in a 1,644 word statement.
"You want me out. That is what I am now trying to do but it won't happen overnight and it may not happen at all if a buyer does not come in.
"I am not stupid and have listened to the fans. I don't want anyone to read my words and think that any of this is an attack on Kevin Keegan.
"The truth is that Newcastle could not sustain buying the Shevchenkos, Robinhos or the Berbatovs.
"My plan and my strategy for Newcastle is different. Arsenal is the shining example in England of a sustainable business model. It takes time. It can't be done overnight."
Ashley bought the troubled club from Freddie Shepherd in £134.4 million in May last year.
Indian billionaire Anil Ambani, the sixth richest man in the world, has dismissed reports linking him with a takeover while Chinese billionaire Xu Rongmao has also been linked with a bid.
Ashley, 43, said he paid for the club out of his own pocket.
"I then poured another £110 million into the club not to pay off the debt but just to reduce it. The club is still in debt," Ashley added.
"Even worse than that, the club still owes millions of pounds in transfer fees. I shall be paying out many more millions over the coming year to pay for players bought by the club before I arrived.
"This will not be a fire sale. Newcastle is now in a much stronger position than it was in 2007. It is planning for the future and it is sustainable."