Chelsea legend Dennis Wise has slammed the management of Newcastle United by former chairman Freddy Shepherd.
The Londoner says Toon owner Mike Ashley was forced to restructure the club when he took over.
Wise, a former Newcastle director of football, was speaking to beIN Sports TV.
He said: "When they went mad and they spent money - that was the hole that Mike ending up paying.
"That was the great big hole that was sitting there.
"And it's going to be there for a long, long time.
"Could they carry on spending money?
"There had to be a stage where it had to be sorted out.
"Mike wasn't prepared to constantly throw money - his own money - and just throw loads of money at that football club."
