Report: Mike Ashley's £129m loan could scare off Newcastle buyers

Newcastle Fans 4

Newcastle United fans wanting rid of Mike Ashley could be waiting a while.

The Times report potential buyers are scared off buying Newcastle United due to the substantial loan current owner Mike Ashley has saddled against the club.

Newcastle released their latest set of financial figures this week, and The Times report while they show a profit, the money has since been spent on buying players, with the investment failing to pay off.

The club are in the relegation zone with just over a month to go, and face a severe financial hit if they drop down into the Championship.

Supporters have wanted rid of Ashley for years, and for many, seeing them go down could be the final straw. Whether he would actually sell up, would be another matter, and would depend on attracting substantial investment, which may not be forthcoming.

The Times report: "New owners would have to repay Ashley’s £129 million interest-free loan to the club [which] makes them a less attractive proposition to potential buyers."

The figure is a huge sum of money for a buyer to have to stump up, on top of paying an actual fee for the club, and still requiring money to spend on players and wages.

At present it feels like Newcastle are facing uncertain times, with their future in the division unsure, and suitability of the squad to compete in the Championship very much debatable.

If a change of ownership is not on the horizon because a buyer does not come forward, a re-think needs to happen internally at the club, to assess how they got into this position in the league table, and how to avoid making similar mistakes.

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