Premier League football club Newcastle United has been put up for sale by its current owner, Mike Ashley.
After a turbulent 10-year tenure with the Magpies, Ashley confirmed this morning he was now actively seeking to sell the club before Christmas.
"To give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level, at what is an important time in its history, its present ownership has determined that it is in the best interests of Newcastle United and its fans for the club to be put up for sale," Newcastle United said in a statement.
"To give an incoming owner the maximum possible flexibility to make meaningful investment in the club, including in its playing squad, the sale process will give interested parties the opportunity of deferring substantial payments.
"A process will now commence of identifying new ownership for the club that will be capable of delivering the sustained investment in and dedication to the club that is necessary for it to achieve its ambitions."
Under Ashley's ownership, the club has been relegated twice, leading many fans of the Magpies to believe Ashley had a lack of investment in the side.
Newcastle are currently ninth in the EPL after eight matches.
SHARE ME