Newcastle United owner Mike Ashley has reduced his loan to the club.

The Mirror reports Newcastle have admitted Ashley has clawed back a slice of his £144m loan to the club.

The Sports Direct tycoon handed United an extra £15m during their season in the Championship to make up for a shortfall in cash as Rafa Benitez led the side to promotion at the first attempt.

But after a bumper season last year when they finished tenth in the Premier League and banked £125.8m in TV cash, plus a transfer window profit this summer, Ashley has reduced his loan to the club.

Rather than investing in the squad heavily this summer from a position of strength, Newcastle made a headline £20m profit this summer.