If Newcastle United can secure naming rights for St James' Park, every penny earned will go back into manager Chris Hughton's squad.

Potential sponsors will have to fork out £6MILLION a season to take over naming rights of the ground and Hughton will be given EVERY PENNY of that cash to strengthen his squad.

A Toon source told the People: "Mike (Ashley) 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."