Kevin Keegan is being offered a sensational return to Newcastle United.
The Sunday Express says Ashley wants Keegan to return to the club as director of football.
Keegan remains a hero among the Newcastle fans from his time at St James' Park both as a player and manager and Ashley is reported to think that his return would "strike a prestigious blow for the new men in charge".
Former England manager Keegan has been heavily involved in his 'Soccer Circus' project since leaving Manchester City two years ago but is thought moves have already been made to sound out the 56-year-old in the hope the chance to return to Newcastle would be too tempting to turn down.