Former chairman Freddy Shepherd has revealed his sadness at the revelations thrown up by Newcastle United's compo row with Kevin Keegan.

Shepherd, who only reluctantly sold his stake in United to Ashley in 2007, said: “The only real losers here are the football club, the city and the fans.

“Forget Kevin Keegan, Mike Ashley and the players – they are only passing through – the club stands steadfast. That is the loser.”