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Tuesday, June 9, 2009

Newcastle owner seeks millions

NEWCASTLE, England (AP) Newcastle has confirmed owner Mike Ashley wants £100 million pounds ($159 million) for the club after it was relegated from the Premier League.

The sportswear tycoon took the team off the market last December due to a lack of suitable offers, but is now willing to cut his losses and has again hired Keith Harris, chairman of investment bankers Seymour Pierce, to search for buyers.

Ashley bought the Magpies for £134 million two years ago.

He tried to sell the club last year after saying he couldn't afford to match the fans' ambitions or cope with the threats to his safety following Kevin Keegan's resignation as manager.

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