Newcastle owner Mike Ashley sensationally snubs club offers from mega-rich Chinese consortiums
NEWCASTLE have snubbed offers from foreign investors wishing to buy the club.
Chinese consortiums attempted to purchase the Championship club for a bargain price following the Toon's Premier League relegation last season.
But the Magpies insist owner Mike Ashley is unwilling to sell, according to the .
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Potential foreign buyers believed the billionaire Sports Direct chief would offload his side due to a financially damaging second relegation in just seven years.
But managing director Lee Charnsley was reportedly given assurances immediately after Newcastle's relegation that Ashley had no interest in selling and was told to shut down any negotiation attempts.
Potential buyers have therefore been brushed off, including some who claimed they could tempt Ashley into selling with a substantial offer.
Newcastle appears to be securely in Ashley's hands, and it appears he is happy to keep hold of the club in the foreseeable future.
Towards the end of the 2014/15 season, when Newcastle were hovering above the drop zone, Ashley said: "[My ambition for the club is] definitely to win something, and by the way, I shan't be selling it until I do."
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Ashley has been subject to abuse from supporters in the past for his running of the club.
But the London-born businessman has taken strides towards repairing his relationship with Toon fans.
Keeping hold of manager Rafa Benitez was seen as a positive move by the Geordie faithful, and instructing Charnsley to allow the Spaniard more control over transfers and the running of the club appears to have worked in the club's favour this season.
Benitez, who was persuaded to stay at St James' Park following relegation, was assured that Ashley would not forceably sell any players without the ex-Liverpool boss' permission.
Moussa Sissoko and Georginio Wijnaldum were both sold in the summer for a combined fee of £55million, but Benitez was able to recruit heavily, with the likes of Dwight Gayle and Matt Ritchie coming in.
Chinese consortiums have left their impression on English football of late, with Aston Villa, Birmingham, Wolves and West Brom all being taken over.
A deal to sell Hull to Far East investors is edging nearer, while Sunderland were involved in talks with a Chinese group in the summer.