BusinessBusiness RecoveryAdministration rumours rejected by Newcastle Utd

Administration rumours rejected by Newcastle Utd

Mike Ashley won't be placing club into administration, despite losses

Newcastle United has denied suggestions the club is on the brink of
administration.

Senior figures at St James’ Park have refuted rumours Mike Ashley will place
the club into administration if a buyer is not found over the coming weeks,
according to
timesonline.co.uk

It has been reported widely that Newcastle are being run on a day-to-day
basis through a bank overdraft of £35m or more.

Singapore-based Profitable Group has also announced it is withdrawing its
interest in the club.

Further Reading:

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collapses after Spanish parent pulls plug

Leonard
Curtis administrators appointed to York Pharma

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