Date: 1st November 2009 at 5:32pm
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In the long list of Mike Ashley bull-shitisms, his latest revelation about ploughing £20m into the club, giving naming rights money to Chris Hughton and allowing him cash from player sales is about as hollow as a canoe. This follows the Keegan debacle, the sale of the club falsehoods and Joe Kinnear. How honestly does the bloke expect us to believe him after streams and torrents of lies?

Laughably a source ‘close to the club` said:

‘Mike recognises what the name St James’ Park means to the Newcastle fans and he understands why there is some anger. But all he is asking is for the fans to sit back and take a realistic look at the situation.

It is costing him £3m a month out of his own pocket to run Newcastle and he is trying to look at other ways of raising revenue – the St James’ Park name is one of his few valuable assets. But he is not going to flog the name of the stadium to the first bidder. He is looking for a significant figure for the stadium naming rights and if he gets it, all the money will go to help Chris Hughton strengthen the team.

Mike has to run the club as a business and at the moment it is probably in a better state than 50 per cent of teams in the Premier League. Yes, Mike has made mistakes, none more so than the appointment of Dennis Wise as director of football, but what has not been a mistake is the way the club is now reaping the rewards of unearthing young talent. Mike is absolutely delighted at the way the likes of Ranger and Andy Carroll have come through

If someone with real financial clout came in, like Sheikh Mansour did at Manchester City, then Mike would sell it overnight. He accepts that the Newcastle fans are never going to love him, not until he gets the club back into the Premier League. But he just wants the fans to love their team and he has been thrilled by the way they have done this season.’