Report: Ashley to pump £60 million into Newcastle transfer spree

The Newcastle owner is said to be proud of a 'huge achievement' on Tyneside.

When Mike Ashley gave a rare interview promising to spend on summer transfers at Newcastle United on the last day of the Premier League season, plenty of supporters were far from convinced.

And yet, according to the Daily Mirror, Ashley will do just that this summer, pumping £60 million (or more) into the club's transfer spending free - which will be conducted by new boss Steve McClaren.

The Newcastle owner, meanwhile, is said to value the 'huge achievement' of making the club financially self-sufficient.

The same report, however, suggests a strange move on Ashley's part in that he will quit the Newcastle board but not relinquish any power at all.

Two directors are said to be taking his place, although - as stated - he will continue running the club as he sees fit.

The Magpies faithful will no doubt take an 'I'll believe it when I see it' approach with regards to transfer funds. The argument, though, is that Ashley saw Newcastle's relegation near-miss as a step too far and wants to produce a major shake-up of how things are done at St James' Park.

Register for NEWCASTLE UNITED team updates

Register for HITC Sport - Daily Dispatch