Newcastle United chairman Chris Mort says he and club owner Mike Ashley are at St James' Park for the long haul.
"It is not a short-term project for Mike Ashley or myself and I want to put that to bed straight away," Mort, who has revealed he will spend the majority of his time in his office at St James's Park, despite keeping his family home in London, told The Journal. "If you look at the companies Mike has bought, like Dunlop and Slazenger, he has developed them over a period of 20 years.
"He does small investments like he did in adidas, which he then sells on, but that is not a whole business, it's a minority stake. He has bought an entire asset here and the plan is to develop it over a lengthy period of time, not turn things around quickly and sell it on again.
"We are here for the long term, this is a long-term project. We are looking at how to take the club forward over various timescales. We are looking at the short term, which is making sure the team is a strong as possible for the start of the Premier League season, which means getting the squad and staff right.
"Then there is the longer time frame, like property development, which we haven't really looked at yet at all. We have to get the foundations right here to sustain long-term goals."