15 Jul 2009Ashley may remain as Newcastle United chairman

Football Clubs News | Football Leagues/ Association and Governance

Despite the constant reports that offers are being made to buy Newcastle United, there now seems a mounting possibility that Mike Ashley will still be the owner come the start of the season.

Ashley has put a £100 million price tag on the Championship club and two parties are thought to still be interested in paying this sum.

However, Ashley is under pressure to sell the club before the end of August – when the transfer window ends – otherwise he may find himself remaining in his position until at least the end of the year.

This could mean that he is forced to sell at a rock bottom price to ensure that a sale is quickly completed.

According to the Guardian, a source close to the takeover activity said: "The process is moving extremely slowly, there is still genuine hope of a sale but it's not looking imminent.

"Newcastle comes with a lot of baggage."

Meanwhile, Newcastle United recently put a number of their highest-earning players, including Obafemi Martins and Fabricio Colloccini, up for sale to try to reduce their high wage bill.

Written by Paul Roberts

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