Chelsea legend Dennis Wise has defender Mike Ashley's running of Newcastle United.
Wise, a former Newcastle director of football, was speaking to beIN Sports TV.
He said: "When he took over the club there was a massive hole that he had to get rid of.
"He put his hand in his pocket with a quarter of a billion pound. He stuck that in and cleared the debt.
"What he decided to do is run it in a structured way so there was no debt. So you can sell players with money, bring in and take out.
"He's set the structure with the wage bill as well, he sticks by it as well.
"He thinks the club should be able to stay up.
"He's not going to go and spend £200million like Liverpool have.
"He's not going to go about doing that."
