Mike Ashley is willing to put Newcastle United back onto the open market - if they win promotion this season.

The News of the World says talks with Barry Moat concerning an £80million buyout broke down two weeks ago at the 11th hour.

But Ashley believes he can double that figure if the Toon, currently top of the Championship, make an immediate return to England's elite.

Ashley, who controversially renamed the ground sportsdirect.com @St James' Park, has failed to sell the club twice before.

But his cost-cutting has streamlined the Geordies.

Boss Chris Hughton will not be given substantial backing in January's transfer window - to help Ashley achieve his ambitions.

Instead, he has been told to look for loan deals and shop within a tight budget.