Mike Ashley admits Newcastle United may seek to clone QPR's ownership model.

Despite being the 54th-richest man in the United Kingdom, with a fortune of about £1.4 billion, according to the Sunday Times Rich List, Ashley wants to follow the example of QPR, where three of the richest men in England - Flavio Briatore, Bernie Ecclestone and Lakshmi Mittal - have joined forces with a view to transforming the fortunes of the Coca-Cola Championship club, says The Times.

"The QPR model looks very interesting," Ashley said. "It's something that Newcastle needs to look at. It's got to be able to compete. Newcastle is not something you make a profit on, you have to enjoy and love it. If we had some multibillionaire that wanted a stake in Newcastle, it will help, but sell the club? It's not the same answer."