2 Apr 2009Llambias dismisses Newcastle administration rumours

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Newcastle managing director Derek Llambias has dismissed suggestions that the club could be facing the prospect of administration if they are relegated from the Premier League.

Reports suggested last weekend that the Magpies - who are currently sitting in the drop-zone, two points from safety - could follow the plight of teams such as Leeds if they fall out of the top flight.

However, Llambias has reacted angrily to those suggestions, claiming that the club would be able to survive financially if they dropped into the Championship.

He said: "It's ridiculous, unfair and unfounded, and it's upsetting because there is no truth in it.

"We'd have to restructure our own business plan like everybody else. But our finances are strong and there would be no threat of administration."

Llambias added that owner Mike Ashley has been affected by the credit crunch but also reiterated that the club is not for sale as "it's not where we want to go".

The last time Newcastle played in the second tier of English football was during the 1992-93 season, when boss Kevin Keegan secured promotion to the Premier League.

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