United no longer for sale as Hughton appointed boss
NEWCASTLE UNITED were tonight removed off the market as Mike Ashley handed Chris Hughton the manager's post on a permanent basis.
The Chronicle revealed earlier this month that Ashley intended to hand Hughton full control of the team after making a great start to the season which currently sees the Magpies top the table.
Ashley spent the day on Tyneside after arriving by helicopter at lunchtime before watching a behind closed doors friendly at the club's Benton base, which United lost 3-2 against Celtic.
A club statement revealed tonight: "The Club had been trying to broker a deal with a number of prospective buyers in recent months however none of those deals came to fruition.
"With regard to the possible sale of the Club to Barry Moat, that particular bid has now fallen through due to the cash price of ÃÂ£80m not being met.
"In confirming the news, Mike Ashley stated that he is totally committed to the future success of Newcastle United and will be focusing on gaining promotion back to the Premier League. Mike will put a further ÃÂ£20m into the Club this week.
Derek Llambias, Managing Director of Newcastle United, said: "We are delighted that Chris has accepted the post of full time manager.
"He has done a terrific job this season and we wish him every success for the rest of this season and beyond.
"He will continue to receive our full backing and support."
And Chris Hughton added: "It is a very proud day for me to be named as the manager of this magnificent football club. I thank Mike and Derek for their support and will be doing everything in my power to get the Club back into the Premier League at the first time of asking.
"Having the unequivocal backing of the players has helped me enormously and I would also like to thank Colin Calderwood, Paul Barron and the rest of the backroom staff who have never been anything but tremendously supportive to me this season."
The statement also said: "Whilst confirming these two matters, Newcastle United now aims to move forward on and off the pitch.
"The Club aims to maximise its commercial revenues; this includes renegotiating its Club sponsor and kit deal, which expire at the end of this season, as well as welcoming offers for the stadium naming rights for next season."