Ashley takes Newcastle off the market

[The Guardian]

• Hughton signs 18-month contract as manager
• Newcastle to search for naming rights for St James' Park



Newcastle United's owner Mike Ashley last night took the club off the market and confirmed that Chris Hughton has been appointed as its permanent manager with a contract running until the end of the 2010-11 season. The club has also announced that it will, controversially, invite bids for the naming rights to St James' Park and renegotiate its club sponsor and kit deals.

Ashley's decision to retain Newcastle – and promise to inject a further £20m into the club this week – comes after a consortium led by the Newcastle-based businessman Barry Moat, who had planned to appoint Alan Shearer as manager, failed to meet his £80m asking price.

A club statement read: "Mike Ashley is totally committed to the future success of Newcastle United and will be focused on gaining promotion back to the Premier League. Mike will put a further £20m into the club this week."

"The club aims to maximise its commercial revenues; this includes renegotiating its club sponsor and kit deal, which expire at the end of this season, as well as welcoming offers for the stadium naming rights for next season."

Ashley initially wanted £100m for Newcastle but lowered his price on the condition that this sum was paid up-front. Unable to fulfil this demand Moat offered £40m as a down payment with the remainder to be paid in instalments. When that was turned down he bid £60m with the rest to follow in staggered payments.

That Ashley has turned down that bid, and one further from Moat, indicates a sea change in the retail entrepreneur's attitude to the club. This is partly due to his realisation that promotion next summer would increase the value of Newcastle appreciably and possibly persuade wealthy buyers to finally snap up a business which drew a crowd of almost 44,000 for the visit of Doncaster Rovers last Saturday.

Should the team fail to return to the Premier League at the first attempt, though, Newcastle's value would drop and Ashley – who bought the club for £134m in the summer of 2007 and has since injected another £100m – could struggle to sell.

Ashley will nevertheless take reassurance in his team's results under Hughton – if not their unconvincing performances – as they sit atop of the Championship with nearly a third of the season behind them.

On Hughton's appointment, Newcastle's managing director Derek Llambias said: "We are delighted that Chris has accepted the post of full-time manager. He has done a terrific job this season and we wish him every success for the rest of this season and beyond. He will continue to receive our full backing and support."

Hughton, who is expected to earn £260,000 per season, added: "I thank Mike and Derek for their support and will be doing everything in my power to get the club back into the Premier League at the first time of asking.

"Having the unequivocal backing of the players has helped me enormously and I would also like to thank Colin Calderwood, Paul Barron and the rest of the backroom staff who have been tremendously supportive to me this season."

• Newcastle United
• Mike Ashley
• Business

Louise Taylor
James Callow

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[cmh9090]

how great it is to have chris hughton as manager, considering how he screwed up the club last season. i've also lost faith in mike ashley though considering what he made the club go through. im equally unconvinced by our recent performances in the championship. its gonna be a long hard season for newcastle again

[alskor]

Nooooooooooooo... Screw you Ashley. Ugh. He continues to run one of the finest clubs in England straight into the ground. The man should go to jail for what he's done to Newcastle.

[cmh9090]

sadly, i can only see that the only route for newcastle with mike ashley in the reins is down down down down down

[Chris]

Oh god, Why???? Can someone rich not buy us!!? (wail)

[Kris]

Ohh dear. Poor Newcastle fans, you almost have it as bad as us. Hughton needs to bring in a striker in January and i can maybe see them keeping the good form up.

[cmh9090]

Oh god, Why???? Can someone rich not buy us!!? (wail)

Originally Posted by toonfan3

we dont really need someone that rich, just someone who can bring stability to the club and not as f***ed up as ashley, who puts the club up for sale and takes them down from the market when he feels like it will do.

[Chris]

Yeah, but rich would be nice. We need a decent striker desperately.

[Frutty]

Oh my god, why the hell Ashley won't let us aloooooooooooone??????
He already destroyed us and now he signed a manager who can't re-build a team which to attack Top 4 next years...
And he promised he will inject 20M in the club... Stories...

[cmh9090]

Oh my god, why the hell Ashley won't let us aloooooooooooone??????
He already destroyed us and now he signed a manager who can't re-build a team which to attack Top 4 next years...
And he promised he will inject 20M in the club... Stories...

Originally Posted by Frutty

i actually feel that with the shitty manager and owner at helm, we'll be lucky to even get promoted. i just dont see how good hughton is, he will only screw up the team

[Aannddyy]

Let's be honest.. If Houghton is being rewarding for being top of the Championship or whatever, then that's just stupid. Anyone could do that with Newcastle! They are by far the biggest club in the league and should without a doubt win it. But I think he's a better manager than Alan Shearer, I know Newcastle fans love him.. But when he managed Newcastle last year he was terrible, although I've never seen a fan say that?? Also is Wise still working for Newcastle?

[cmh9090]

no more un-wise, he quit last year. i always thought hughton was horrible, its just that i never mentioned cos i wasnt in this forum yet

[Aannddyy]

So who buys your players now? lol Please don't say Houghton.. He's rare..

[Scott*]

give houghton a break, he took over with over paid players who didnt want to be there, he took them 2 top of the championship, all this without haing a clue whether he be incharge next week or not, he always had the shearer factor to deal with, he had to pressure of 50,000 geordies on his back. all this he was only allowed to sign a couple of players and sell some good ones, all this and he is top of the league, scoring goals, and you all have the cheek to slaughter him for doing a good job, i am starting to beileve joey barton, newcastle fans are vicious and stupid.

[Aannddyy]

Why is nobody talking about the fact he is selling the name rights of the stadium?

[Scott*]

becuase tht isnt the bad, clubs do it all the time.

[Aannddyy]

becuase tht isnt the bad, clubs do it all the time.

Originally Posted by scott button

Yeah we'll see about that when it's Old Trafford being renamed the Tesco Arena!

[Scott*]

if utd need to re-name old trafford to survive well, god knows i wouldnt be pleased but i would accept it, as whats worse a re-named stadium or a club in adminstation.

i just looking forward to anfield being re-named to " the hi=tech shoes" stadium

[Max]

i actually feel that with the shitty manager and owner at helm, we'll be lucky to even get promoted. i just dont see how good hughton is, he will only screw up the team

Originally Posted by cmh9090

Hughton isn't that bad, you could of had a lot worse, he's better than Shearer as a manager..