Newcastle United have officially been put up for sale by owner Mike Ashley.
The Premier League club released a statement on Monday confirming the decision on the grounds they need “a clear direction and a path to a bright and successful future”.
It is believed Ashley is eager to complete a sale before the new year.
“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,” the statement from parent company, St. James’ Holdings Limited, said.
“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.”