Premier League: the owner of Newcastle United FC announces the club is up for sale

"To give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level, at what is an important time in its history, its present ownership has determined that it is in the best interests of Newcastle United and its fans for the club to be put up for sale," said St. James Holdings Limited, the holding company of the club, on 16/10/2017. This statement follows reports from several British media sources outlining the sale of the club.

"As one of the Premier League's oldest and best supported football clubs - and for the benefit of its many fans and supporters in the UK and across the world - Newcastle United requires a clear direction and a path to a bright and successful future," said St. James Holdings Limited, a 100% wholly-owned company held by MASH Holdings Limited, which is owned by Mike Ashley.

"To give an incoming owner the maximum possible flexibility to make meaningful investment in the club, including in its playing squad, the sale process will give interested parties the opportunity of deferring substantial…