30 Jul 2009Newcastle United administration rumours quashed

Football Clubs News | Football Leagues/ Association and Governance

Rumours suggesting that Mike Ashley will put Newcastle United in administration if a new buyer is not found before the start of the upcoming season have been quashed by senior figures at the club.

Ashley has struggled to complete a sale of the Championship side, despite a number of parties being seemingly interested in matching his £100 million price tag.

The Profitable Group recently revealed that it had pulled out of the running to acquire the club and any other such activity is moving along at a slow rate, although the start of the new season is fast approaching.

However, a source close to the situation told the Newcastle Journal: "There's absolutely no chance of Mike putting the club into administration, that has never been considered as an option and we don't know where this (suggestion) has come from.

"Seymour Pierce are continuing to work on the sale and we are still talking to people. Everything is on-going and we certainly haven't given up on finding a suitable buyer."

If Newcastle United do end up falling into administration they would be given a ten-point penalty from the Football League, while every player would be made available for transfer in a bid to improve finances.

Newcastle United begin their Championship season away at West Bromwich Albion on August 8th.

Written by Paul Roberts

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