Mike Ashley set to 'concede defeat' and stay on as Newcastle United owner

Mike Ashley's planning for the future at Newcastle United after failing to find a buyer, according to a report.

Saturday, 19th January 2019, 12:03 pm
Updated Saturday, 19th January 2019, 12:09 pm
Mike Ashley and Lee Charnley.

Ashley put the club up for sale in October 2017 after admitting he wasn't prepared to invest any more of his money.

However, none of the four interested parties who have held discussions with lawyers handling the sale have been able to put money on the table.

Mike Ashley and Lee Charnley.

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And the Daily Mail report that Ashley is "close to conceding defeat" in his efforts to sell the club for around £300million.

Ashley, speaking late last year, had claimed that a sale was possible before the New Year.

However, there has been no progress since then.

It was yesterday claimed that former United executive director Dennis Wise was "advising" Ashley, though club sources claim he hasn't held meetings with Lee Charnley, the club's managing director.

Rafa Benitez, meanwhile, is waiting for a transfer breakthrough.

United's manager submitted lists of potential targets last month, but the club has not yet made a signing.

Newcastle are 18th in the Premier League ahead of this afternoon's home game against Cardiff City.