Mike Ashley preparing to keep Newcastle United for upcoming season

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The start of the new season has come around painfully quick for supporters of Newcastle United.

While the Magpies comfortably avoided relegation last term, fans went into the summer period calling for significant change at St James’ Park.

While recruitment was clearly the frontline issue that supporters wanted to be addressed, the problems on Tyneside run far deeper.

The ongoing issues are widely thought to be down to Mike Ashley.

After years of underinvestment, fans are desperate to the see the club spending money as they look to push themselves up the league to mount a genuine push for the European places.

If that doesn’t happen, then the club will continue to battle relegation.

It seemed that the days of frugal spending were behind them as Amanda Staveley and the Saudi-backed consortium looked to close in on a £300million deal to takeover the club.

But with the prospective buyers withdrawing their interest, it took the whole sorry saga back to the drawing board.

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Several names have been linked as potential approaches to the buy the club, but a report has provided a bleak update on the process.

The Northern Echo have claimed Mike Ashley is resigned to remaining in charge of the club for the duration of the coming season.

This comes after the decision to halt negotiations with Henry Mauriss following a lack of progress in discussions.

It’s claimed that Ashley won’t entertain further discussions until he gets ‘a cast-iron proof of funds and a non-refundable deposit’. 

As a result the Newcastle owner has instructed Lee Charnley to build a budget on the basis of retaining control for the rest of the season.

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GIVEMESPORT’S Phil Spencer says…

This isn’t the news that Newcastle United supporters want to hear.

That said, it is probably good news for the season ahead.

Transfer plans have almost stalled as a result of the uncertainty over the ownership of the club, and that is why Newcastle are falling behind in the transfer market.

But with this update it seems that things could soon ramp up.

Ashley will not want to risk the club being relegated this term, as ultimately this will have a huge impact on the valuation of the club.

What we could see as a result is an influx if investment in the team to ensure that the club can push upwards in the league.

Signing good players with good valuations will only go to improve the amount that he can command from a potential sale, and that’s something that he must keep in mind.

Newcastle still need 4 or 5 good additions, otherwise it could be a long season.

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