Llambias: Ashley rescued Newcastle from administration

Newcastle United chief Derek Llambias says the club would have gone into administration if not for owner Mike Ashley.

Llambias has revealed Ashley, who has twice tried and failed to sell the Magpies, has pumped in a further £36million this season in his efforts to help them return to the Barclays Premier League.

Writing in his programme notes ahead of the Coca-Cola Championship clash with Barnsley, Llambias praised the support given to the team, but aimed a broadside at "a small and very negative group that, despite all our efforts on and off the pitch, still insist on chanting ugly and abusive comments" about Ashley.

He said: "Let me set the record straight about Mike's commitment to Newcastle United.

"Since the beginning of the season, he has pumped £25.5million into this football club and this week, a further £5million was needed.

"In addition to these amounts, Mike, realising the need to bring in new faces and back his manager's request, spent £5.5million in the January transfer window.

"This cash, as with all the funds that Mike has put into the club, is interest-free.

"This money is critical and is needed to cover the shortfall between what we bring in as a football club (income) and what we pay out (costs).

"As you will have read in the press, not all football clubs have such a benefactor and some are on the verge of bankruptcy or have already gone into administration.

"There are clubs from across the board that are struggling financially at this moment in time, and if it wasn't for Mike's continued input, I genuinely think we would be in a similar position to the one Portsmouth find themselves in at this moment."