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Newcastle need another £10M from Ashley to make season end

Submitted by tribalfootball.com on Mon, 03/08/2010 - 11:27

Newcastle United need club owner Mike Ashley to commit another £10 million to get the club over the line this season.

The News of the World says despite a series of cutbacks, Newcastle's wage bill and running costs are still too high.

Ashley put £25m into the club at the end of 2009 to keep the club afloat - interest free. His loan was offset against the second relegation parachute payment, due in August, and also deferred payments on last year's transfer sales that will land at the end of the season.

But there is a further need for fresh investment to tide the club over until the summer, when the hope is that Newcastle will be a Premier League club again, and receive a cash windfall of around £35m.

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