Report claims Mike Ashley will want more than £300m for Newcastle

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Newcastle United look set to remain in the Premier League for next season at least.

Newcastle United owner Mike Ashley will not sell the club on the cheap, according to The Shields Gazette.

It has been reported that Ashley is looking for a buyer for Newcastle, who look set to retain their Premier League status for the 2018-19 campaign.

The English business had been prepared to accept around £300 million for the Magpies last year, with Amanda Staveley’s PCP Capital Partners interested, according to the report.

The Shields Gazette has now claimed that Ashley will want more than £300m to sell the Premier League club, as Newcastle are unlikely to get relegated to the Championship at the end of the season.

Shrewd business

Newcastle are one of the best supported football clubs in the world, and Ashley’s (reported) stance of not selling the Magpies on the cheap is very shrewd.

There is a lot of potential at Newcastle, as any new buyer will know that the club could be challenging for top honours in the coming years with the right investment.

If the Magpies remain in the Premier League next season, then Ashley could demand much more than £300m.