'We're not in the running': Multi-millionaire says he won't be buying Newcastle

Owner Mike Ashley watches on during the FA Cup Third Round Replay match between Newcastle United and Rochdale at St. James Park on January 14, 2020 in Newcastle upon Tyne, England.

Newcastle United are thought to be up for sale at the moment, with Mike Ashely looking to find a buyer.

A general view of St James' Park during the Premier League match between Newcastle United and Chelsea at St. James Park on May 13, 2018 in Newcastle upon Tyne, England.

Eddie Hearn has rubbished suggestions that he will be buying Newcastle United in the Shields Gazette.

There had been some suggestions that Eddie and his Father, Barry, would be involved in a takeover bid for Newcastle.

However, the boxing chief has suggested that is just wild speculation and he has no interest in buying the Magpies.

“I asked him [Barry] where it had come from and he said 'no idea'," Hearn said. 

 

“We love Newcastle United, but we ain't buying it. We are not in the running.”

Newcastle have been linked with takeover bids aplenty in recent times, but still nobody has taken the controlling share of the club off Mike Ashley.

It is thought that Ashley is prepared to sell Newcastle, but nobody has met his asking price yet.

Owner Mike Ashley watches on during the FA Cup Third Round Replay match between Newcastle United and Rochdale at St. James Park on January 14, 2020 in Newcastle upon Tyne, England.

Newcastle fans are generally desperate for a change of ownership, as they seek greater investment.

Ashley has been criticised from large sections of the club's support for not showing enough ambition, with Newcastle struggling to break past a mid-table spot in the Premier League.

Steve Bruce’s side are currently in 12th place in the top flight, seven points above the drop zone.

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