Chris Waddle issues scathing verdict on Newcastle United's future under Mike Ashley

The Magpies finished 12th last season after spending most of the campaign embroiled in a relegation battle, and the ex-England international is of the opinion that they have just about hit their ceiling under the controversial billionaire.

As things stand, Ashley is still awaiting the verdict of a protracted arbitration process that could potentially allow him to sell the club to the Saudi-led consortium that tried and failed to complete a takeover on Tyneside in the summer of 2019.

And Waddle is of the opinion that it will take the businessman leaving St. James’ Park for his former side to enjoy any kind of success in the relatively near future.

Speaking to Betting Expert, he said: “No disrespect to other teams, but clubs like Leicester are well run and spend good money and run a very good business.

"Newcastle fans look at teams like that and are thinking ‘why can’t we be up there?’

"Again, it’s about budget. If you’ve got a quarter of the budget of ten teams you’re going to finish around 10th or 12th position. You can’t just say ‘let’s buy so and so, turn them into world beaters and win the league’.

"The only way Newcastle get back to the top is if Mike Ashley sells the club and somebody very, very rich buys it.”