Mike Ashley (Newcastle) statement................

[Wacky Racer]

Mike Ashley statement
Read Newcastle owner Mike Ashley's reasons for wanting to sell the club in this lengthy and emotional 1,644-word statement released on Sunday.

Ashley and his board have come under fire since manager Kevin Keegan resigned earlier this month and fans staged protests before, during and after Saturday's 2-1 defeat at home to Hull.

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I have enjoyed sport since I was a boy. I love football. I have followed England in every tournament since Mexico '86. I was there to see Maradona and his hand of God. I know what it means to love football and to love a club. I know how important it is to other people because football is so important to me.

My life has been tied up with sport. It was the passion that I felt for sport that helped me to be successful with my business. That success allowed me to mix my passion and my business.

I am not stupid and have listened to the fans. I have really loved taking my kids to the games, being next to them and all the fans. But 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.

Mike Ashley
I bought Newcastle United in May 2007. Newcastle attracted me because everyone in England knows that it has the best fans in football. When the fans are behind the club at St James' Park it makes the hairs on the back of your neck stand up. It is magic. Newcastle's best asset has been, is and always will be the fans.

But like any business with assets the club has debts. I paid £134 million out of my own pocket for the club. I then poured another £110 million into the club not to pay off the debt but just to reduce it. The club is still in debt. Even worse than that, the club still owes millions of pounds in transfer fees. 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.

Don't get me wrong. I did not buy Newcastle to make money. I bought Newcastle because I love football. Newcastle does not generate the income of a Manchester United or a Real Madrid. I am Mike Ashley, not Mike Ashley a multi-billionaire with unlimited resources. Newcastle United and I can't do what other clubs can. We can't afford it.


Newcastle fans made their feelings known before the 2-1 defeat to Hull
I knew that the club would cost me money every year after I had bought it. I have backed the club with money. You can see that from the fact that Newcastle has the fifth highest wage bill in the Premier League. I was always prepared to bank roll Newcastle up to the tune of £20 million per year but no more. That was my bargain. I would make the club solvent. I would make it a going concern. I would pour up to £20 million a year into the club and not expect anything back. It has to be realised that if I put £100 million into the club year in year out then it would not be too long before I was cleaned out and a debt ridden Newcastle United would find itself in the position that faced Leeds United.

That is the nightmare for every fan. To love a club that overextends itself, that tries to spend what it can't afford.

That will never happen to Newcastle when I am in charge. The truth is that Newcastle could not sustain buying the Shevchenko's, Robinho's or the Berbatov's. These are recognised European footballers. They have played in the European leagues and everyone knows about them. They can be brilliant signings. But everybody knows that they are brilliant and so they, and players like them, cost more than £30 million to buy before you even take into account agent commissions and the multi-million pound wage deals.

My plan and my strategy for Newcastle is different. It has to be. Arsenal is the shining example in England of a sustainable business model. It takes time. It can't be done overnight. Newcastle has therefore set up an extensive scouting system. We look for young players, for players in foreign leagues who everyone does not know about. We try and stay ahead of the competition. We search high and low looking for value, for potential that we can bring on and for players who will allow Newcastle to compete at the very highest level but who don't cost the earth.

606: DEBATE
If he'd have come out with something like this sooner it may never have come to what it has.

Mirandinha
I am prepared to back large signings for millions of pounds but for a player who is young and has their career in front of them and not for established players at the other end of their careers. There is no other workable way forward for Newcastle. It is in this regard that Dennis and his team have done a first class job in scouting for talent to secure the future of the club.

You only need to look at some of our signings to see that it is working, slowly working. Look at Jonas Guttierrez and Fabricio Collocini. These are world class players. The plan is showing dividends with the signing of exceptional young talent such as Sebastien Bassong, Danny Guthrie and Xisco.

My investment in the club has extended to time, effort and yet again, money being poured into the Academy. I want Newcastle to be able to create its own legends of the future to rival those of the past. This is a long term plan. A long term plan for the future of the club so that it can flourish.

One person alone can't manage a Premiership football club and scout the world looking for world class players and stars of the future. It needs a structure and it needs people who are dedicated to that task. It needs all members of the management team to share that vision for it to work.

Also one of the reasons that the club was so in debt when I took over was due to transfer dealings caused by managers moving in and out of the club. Every time there was a change in manager millions would be spent on new players and millions would be lost as players were sold. It can't keep on working like that. It is just madness.

I hope that all the fans get to read this statement so that they understand what I am about. I would not expect all of the fans to agree with me. But I have set out, clearly, my plan.

Mike Ashley
I have put Newcastle on a sound financial footing. It is reducing its debt. It is spending within itself. It is recruiting exciting new players and bringing in players for the future.

The fans want this process to happen more quickly and they want huge amounts spent in the transfer market so that the club can compete at the top table of European football now. I am not stupid and have listened to the fans. I have really loved taking my kids to the games, being next to them and all the fans. But 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. 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.

This will not be a fire sale. Newcastle is now in a much stronger position than it was in 2007. It is planning for the future and it is sustainable.

I am still a fan of Newcastle United. We, my kids and I, have loved standing on the terraces with the fans, we have loved travelling with the away fans and we have met so many fans whose company we have enjoyed. We have absolutely loved it but it is not safe anymore for us as a family.

I am very conscious of the responsibility that I bear in owning Newcastle United. Tough decisions have to be made in business and I will not shy away from doing what I consider to be in the best interests of the club. This is not fantasy football.


Newcastle fans reacted angrily after Kevin Keegan left the club
I don't want anyone to read my words and think that any of this is an attack on Kevin Keegan. It is not. Kevin and I always got on. Everyone at the club, and I mean everyone, thinks that he has few equals in getting the best out of the players. He is a legend at the club and rightly so. Clearly there are disagreements between Kevin and the Board and we have both put that in the hands of our lawyers.

I hope that all the fans get to read this statement so that they understand what I am about. I would not expect all of the fans to agree with me. But I have set out, clearly, my plan. If I can't sell the club to someone who will give the fans what they want then I shall continue to ensure that Newcastle is run on a business and football model that is sustainable. I care too much about the club merely to abandon it.

I have the interests of Newcastle United at heart. I have listened to you. You want me out. That is what I am now trying to do but it won't happen overnight and it may not happen at all if a buyer does not come in.

You don't need to demonstrate against me again because I have got the message. Any further action will only have an adverse effect on the team. As fans of Newcastle United you need to spend your energy getting behind, not me, but the players who need your support.

I am determined that Newcastle United is not only here today, but that it is also there tomorrow for your children who stand beside you at St James' Park.

Mike Ashley.

[mickk]

No mention of Dennis the Menace

[Wacky Racer]

Reading the BBC's "606" fan column there seems to be a lot of sympathy for MA, and a backlash against KK.......It will be interesting to see how this develops.......

[vivaronaldo]

Statement reads very well. Newcastles problem is their fans think they are a big club and they simply arent, and once they come to accept that life will be much rosier for them

[Fittster]

If the grand plan was to bring through young talent, then why higher KK? A man who axed the reserve team making hard for young player (who included Carrick) to get into the first team squad.

[Fiddlemesticks]

vivaronaldo said:

Statement reads very well. Newcastles problem is their fans think they are a big club and they simply arent, and once they come to accept that life will be much rosier for them

I actually agree with you for once.

The club is not that big, havent won anything in ages and their fans seem to think that a wealthy owner is just going to pump a lot of money into a club for the fans, and no one elses benefit.

I'm surprised he bought the sack of st outfit in the first place.

[Not Ideal]

Reads like a 5 yr old wrote it..!!

[The jiffle king]

Sympathy with Ashley , but a quarter of a billion pounds? Wow!!! Surely when he took the club over, he had someone look at the previous transfers which they are still paying for. 20 million a year is a lot of cash, and I hope that Newcastle fans let him return and enjoy football

T-J-K

[BTelford]

The jiffle king said:

Sympathy with Ashley , but a quarter of a billion pounds? Wow!!! Surely when he took the club over, he had someone look at the previous transfers which they are still paying for. 20 million a year is a lot of cash, and I hope that Newcastle fans let him return and enjoy football

T-J-K

No he just brought it, and didn't do a proper investigation before buying it. That is one of the problems. As he said, every time they opened a cupboard they found another debt. The toon army is the problem here, they have some romantic idea of how their club should be run, way beyond its means. Freddie Shephard was running it into the ground, and they don't seem to see that. 250m is a hell of a lot of money to plough into a business, but that was needed to keep it going!

[ray_von]

The statement is a bit strange. If Ashley is such a big football fan, how did he not realise that things would end up with Keegan walking out at some stage? Virtually anyone who does follow football could have predicted that.
Also when he was out buying everyone drinks down the Quayside/Blu Bambu/Strawberry, why did none of his cronies/advisors warn him that NUFC fans are amongst the most fickle in the country,another thing he should have known being such a big football fan,and as soon as things didn't go the way they wanted he'd be where the wrath would focus.
When he took over he was alleged to be reclusive, he has shown he is nothing of the sort.I have little sympathy for NUFC and the fans, but after reading that I think I have less for Ashley.

[amare32]

If I was a billionnaire, investing £250 million in a football club would be the last thing any sane person would do...

[The jiffle king]

You spend many years prudently taking decisions to grow and nurture a business then rush into buying a football club without looking at due dilligence!!

It's beyond comprehension for astute business people to not think about these things. I know that he paid off multi-millions in debts, but he must have really loved the club!

I hope he pulls out totally and lets the fans buy it and see how quickly they run it into the ground. They have not got a clue how to run a football club (Neither have I!!) but they have unrealistic expectations

Newcastle are a medium sized Premiership club

T-J-K

[largerandrock]

As they say the quickest way to become a football millionaire is to be a billionaire and buy a football club.

I think he has bitten off more than he can chew.
As for wanting to be the next Arsenal how long has AW been manager?
He should stand by what he says and not run off crying!
Gus poyet for manager and bring back kevin keegan as motivational speaker or assistant manager or tea lady anything to keep the fans who are stuck in past happy. We never won anything under Keegan in the past what makes people think we will win anything this time round, im happy just to still be in the prem!.

[eldudereno]

Newcastle aren't any different to any other club when it comes to still owing money for transfers, this is a common occurrence with fooball clubs and doesn't just apply to Newcastle.

Does Ashley want us to kiss his feet or what? Yes, he apparently put £110M into paying off some of our depts but this is why he only had to pay £134M for the club in the first place.

I also resent him talking about being scared to attend any more matches with his family. You're always going to get one or two nutcases supporting any team but this possible threat comes from the extreme minority and isn't the general consensus. I for one don't appreciate being tarred with the same brush and don't think it was necessary to include this in his statement.