Newcastle United Football Club has been put up for sale by its owner Mike Ashley following a number of supporters' protests.
Ashley, who spent nearly £250m to acquire the club in May 2007, has been targeted by fans who blame him for the resignation of former manager, Kevin Keegan, earlier this month.
In a lengthy statement on the club's official website, Ashley said that fears for his family's safety at games had prompted the decision to sell: "I am now a dad who can't take his kids to a football game on a Saturday because I am advised that we would be assaulted," he said. "Therefore, I am no longer prepared to subsidise Newcastle United.
"I am putting the club up for sale. I hope that the fans get what they want and that the next owner is someone who can lavish the amount of money on the club that the fans want."
Ashley also revealed that the club still owes millions of pounds in transfer fees, and its very existence was threatened without his investment.
"The club still owes millions of pounds in transfer fees," said Ashley. "I shall be paying out many more millions over the coming year to pay for players bought by the club before I arrived. But there was a double whammy. Commercial deals such as sponsorships and advertising had been front loaded. The money had been paid upfront and spent. I was left with a club that owed millions and part of whose future had been mortgaged.
"Unless I had come into the club then it might not have survived. It could have shared the fate of other clubs who have borrowed too heavily against their future. Before I had spent a penny on wages or buying players Newcastle United had cost me more than a quarter of a billion pounds."
Newcastle United Football Club has been put up for sale by its owner Mike Ashley following a number of supporters' protests.
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Experience the pinnacle of fitness and luxury at the premier industry event, Sibec EMEA, set
against the breathtaking backdrop of the Fairmont Monte Carlo this Autumn.
As one of the most energy-intensive industries in the UK, leisure facilities face a critical
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11 to 14 April saw the fitness industry impressively demonstrate just how innovative it is in
fulfilling its responsibility for a healthy society at FIBO in Cologne. Over 1,000 exhibitors
and partners generated boundless enthusiasm among 129,668 visitors from 114 countries.
Newcastle United Football Club has been put up for sale by its owner Mike Ashley following a number of supporters' protests.
Ashley, who spent nearly £250m to acquire the club in May 2007, has been targeted by fans who blame him for the resignation of former manager, Kevin Keegan, earlier this month.
In a lengthy statement on the club's official website, Ashley said that fears for his family's safety at games had prompted the decision to sell: "I am now a dad who can't take his kids to a football game on a Saturday because I am advised that we would be assaulted," he said. "Therefore, I am no longer prepared to subsidise Newcastle United.
"I am putting the club up for sale. I hope that the fans get what they want and that the next owner is someone who can lavish the amount of money on the club that the fans want."
Ashley also revealed that the club still owes millions of pounds in transfer fees, and its very existence was threatened without his investment.
"The club still owes millions of pounds in transfer fees," said Ashley. "I shall be paying out many more millions over the coming year to pay for players bought by the club before I arrived. But there was a double whammy. Commercial deals such as sponsorships and advertising had been front loaded. The money had been paid upfront and spent. I was left with a club that owed millions and part of whose future had been mortgaged.
"Unless I had come into the club then it might not have survived. It could have shared the fate of other clubs who have borrowed too heavily against their future. Before I had spent a penny on wages or buying players Newcastle United had cost me more than a quarter of a billion pounds."
Newcastle United Football Club has been put up for sale by its owner Mike Ashley following a number of supporters' protests.
Imposter syndrome about a promotion taught the
CEO of SATS that behaving authentically is the most
important part of leadership. He talks to Kath Hudson
Members are telling us they need support with their mental and spiritual health and the industry is starting to see this need. Now’s the time to fast-track our response
As health club operators move to incorporate recovery into their
offerings to meet growing consumer demand, Steph Eaves takes a
look at what cryotherapy and ice bathing can add to the equation
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Experience the pinnacle of fitness and luxury at the premier industry event, Sibec EMEA, set
against the breathtaking backdrop of the Fairmont Monte Carlo this Autumn.
As one of the most energy-intensive industries in the UK, leisure facilities face a critical
challenge in balancing net zero goals, funding and increased costs.
Being a carer – whether that’s looking after a young person, a senior citizen or someone with
a long-term illness or disability – can be rewarding but stressful at times. These
responsibilities may also limit the carer’s ability to find paid employment.
11 to 14 April saw the fitness industry impressively demonstrate just how innovative it is in
fulfilling its responsibility for a healthy society at FIBO in Cologne. Over 1,000 exhibitors
and partners generated boundless enthusiasm among 129,668 visitors from 114 countries.