Newcastle no longer up for sale

Ashley is now looking to build Newcastle back up again

Newcastle United are no longer up for sale, club owner Mike Ashley announced on Sunday.

Ashley has taken the Magpies off the market and insists he is now "committing to the club as its owner".

He put the Tyneside club up for sale in September after a backlash from fans upset at the exit of boss Kevin Keegan.

"I am happy to end the uncertainty fans may have had about the [club's] future direction," he said. "I know just how important that is to you."

After failing to find a buyer in the past three months despite what the club claim to be "considerable interest", the billionaire sportswear magnate has decided to push ahead with his own plans.

"For me 2009 will be the year in which we drive the club forward together," he said in a statement to fans, published in the match programme for Sunday's clash with Liverpool.

"Even when I haven't been at games I have remained a keen supporter, kicking and heading every ball and cheering the team on TV and being first to congratulate Joe Kinnear whenever there's a good result.

"When I took the decision to put the club up for sale in September I made a point of saying two things were very important.

606: DEBATE Is this good news for Newcastle?

"Firstly, any potential buyer would have to show they had the best interests of Newcastle United at heart and had both the commitment and finance to be worthy custodians of such a fine football club before I would even consider doing a deal.

"And secondly, I gave you my word that as long as I remain owner, this club would continue to be run responsibly at all levels. I hope you will accept that I have stood by that pledge."

Ashley engaged the services of investment bank Seymour Pierce after deciding to end his ownership at St James' Park following mass protests against his regime in the wake of Keegan's departure.

But, according to Newcastle's official website, he is now set to "allow the club to continue to progress under the new management team led by Joe Kinnear".

Ashley launched a £134.4m takeover of the club in May last year and has since invested around a further £100m in servicing the club's debt and attempting to strengthen the playing squad.

The Magpies currently lie 12th in the Premier League, having recently hauled themselves out of the relegation zone.

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