For sale: Newcastle owner wants to sell Premier League club
ABS-CBN Sports on Oct 17, 2017 09:17 AM
FILE- In this Sunday, May 24, 2015 file photo, Newcastle United's owner Mike Ashley, left, and managing director Lee Charnley, right, are seen in the stand ahead of their English Premier League soccer match between Newcastle United and West Ham United's at St James' Park, Newcastle, England. English Premier League club Newcastle is up for sale. (AP Photo/Scott Heppell, File)
NEWCASTLE, England (AP) — English Premier League club Newcastle is up for sale.
Newcastle owner Mike Ashley's company, St. James Holdings, released a statement Monday saying the decision was taken "to give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level."
The 53-year-old Ashley bought Newcastle in 2007, clearing existing debts and securing the club's financial future at a troubling time. The club has been relegated twice in the intervening decade and there has been frequent discord with the fans.
The statement said Newcastle has made a public announcement due to growing "press speculation," which increased after the appearance of financier Amanda Staveley at Newcastle's game against Liverpool this month.
Ashley also put Newcastle up for sale in 2008.