St James Holdings Limited, which owns Newcastle United, has confirmed that it has put the club up for sale.
A statement on the club’s website said: “As one of the Premier League's oldest and best supported football clubs - and for the benefit of its many fans and supporters in the UK and across the world - Newcastle United requires a clear direction and a path to a bright and successful future.”
St James Holdings says that the sale will “give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level, at what is an important time in its history”
This is not the first time Newcastle United has been up for sale, the company intended to sell the club in both 2008 and 2009, although it was taken off the market on both occasions.
The statement on the club’s website said: “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 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.”