Newcastle United owner Mike Ashley has committed another £30 million to the club's coffers.

The Times says the investment comes as Ashley and his advisers, Kaupthing, examine possibilities for the refinancing of the club he bought largely with his own money.

Ashley's investment comes after criticisms from Sam Allardyce, the manager, over a lack of investment in the squad. Despite spending £15.5 million on Alan Smith, Jose Enrique and David Rozehnal since Ashley formally took over, the club have recouped only £7 million from the sale of Kieron Dyer to West Ham United and Allardyce has expressed frustration at the slow pace of his squad rebuilding.