St James Holdings Limited, the owner of English Premier League side Newcastle United, is putting the club up for sale.
According to the owner, the move is in the best interest of not only the club but also its fans.
“To give an incoming owner the maximum possible flexibility to make meaningful investment in the club, including in its playing squad, the sale process will give interested parties the opportunity of deferring substantial payments,” a statement issued on the club’s website on Monday said.
The Magpies returned to the Premier League this season after winning the 2016/2017 Championship.
They are currently 9th on 11 points after sharing the spoils with Southampton on Sunday.
Among key signings this season is Ghana’s Christian Atsu, who had played a pivotal role in the Championship win as a Chelsea loanee.
The statement was issued to clarify increasing press speculations.
“A process will now commence of identifying new ownership for the club that will be capable of delivering the sustained investment in and dedication to the club that is necessary for it to achieve its ambitions.”
By Emmanuel Kwame Amoh|3news.com|Ghana