Newcastle owner Mike Ashley has stated that he has no intentions of selling Newcastle United until at least the end of next season, according to the BBC.
It was said he was to sell the Northern club and instead increase his shares in Scottish side Rangers – of whom he owns 9%.
However the Buckinghamshire businessman also ruled out adding to his stake in the club and the Magpies released a statement of Ashley’s intentions.
The statement read: “The truth is Mike Ashley remains committed to Newcastle United.
“This means that for the remainder of this season and at least until the end of next season, Mike Ashley will not sell Newcastle United at any price.”
Ashley bought the club back in June 2007 for a reported £134m.
He has endured a rocky relationship with supporters since taking over at the club, with perhaps the most high profile falling out over the renaming of St James’ Park.
In November of 2011 the iconic name of the stadium was dropped – being cited as not ‘commercially attractive’, and renamed as the Sports Direct Arena, after Ashley’s company Sports Direct.
The renaming was an attempt to showcase the naming rights to potential advertisers but faced fierce opposition from supporters.
In 2012 payday loans company Wonga.com were announced as the new sponsors of the club much to the dismay of fans once again – but their first act as sponsors was to revert the name of the stadium back to St James’ Park.
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