Mike Ashley Drops Newcastle Asking Price to £380m as He Looks to Complete Sale of Club

Newcastle owner Mike Ashley has dropped the club's asking price to £380m as he looks to complete a sale, The Times have reported.

The decision came after a number of potential buyers signed non-disclosure agreements over the past few weeks. Ashley had originally valued the club at £400m during negotiations with Chinese investors last summer.

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Newcastle have now been on the market for several years, but have as yet been unable to find a buyer.

Ashley is reportedly hopeful that he can sell for more than double the £180m he paid for Newcastle ten years ago. But according to the Times, "brokers believe that he is being optimistic."

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"If somebody would like come along and take this seat and fund Newcastle with a nought on the end with their wealth more than me, I will not stand in Newcastle United's way," Ashley said last month, quoted by the Shields Gazette.

"One of the reasons I'm doing this interview is that I don't think you'll find there's many people out there who will actually stand up and do it. 

"I think we're going to be together a good while longer and we've got the man in Rafa (Benitez) and let's hope that we can generate some funds and we give him some chance to get some building blocks going over the coming years."

Newly-promoted Newcastle currently sit in seventh place in the Premier League ahead of Sunday's game against Brighton and Hove Albion at the Amex Stadium.