Newcastle United owner Mike Ashley is prepared to sell up - but only if it means he recoups all the money he has invested in the club.

The Independent says recent figures released by Deloitte showed that the debt owed by the club to the Sports Direct owner stood at £267 million and that is around the figure it will take to end his controversial reign at St James' Park.

Ashley is facing renewed calls in the North-east to end his six-years in charge at St James' Park following the latest area of controversy, the appointment of Joe Kinnear as director of football.

A combined Newcastle supporters' group meeting on Monday night attracted around 400 fans and a statement was released yesterday that called for the Sports Direct billionaire to "consider his position as owner of Newcastle United."