Mike Ashley set to remain in charge of Newcastle for another season

Mike Ashley is poised to take Newcastle United off the market and stay in charge for another year.

Prospective owner Barry Moat is struggling to raise the £100 million to buy the club, meaning Ashley is set to retain control and appoint a long term boss.

Tyneside businessman Moat is having to borrow the majority of the asking price from banks and a large slice from Ashley, but has to raise around £20 million of his own cash which is a problem.

It is believed that Moat has an agreement with Barclays to finance the club’s pds 39 million overdraft, as long as it is quickly reduced to around pds 10 million, but can’t meet Ashley’s price.

Ashley has repeatedly extended a deadline for Moat to strike a deal and raise the cash, and patience is running out. That could open the door for David O’Leary or Joe Kinnear to be appointed boss.

The Sports Direct tycoon, who has been encouraged by the 43,000-plus home crowds this season, laughed off chants from the Geordie crowd for him to go.

Newcastle take on Huddersfield tonight with former heroes Lee Clark and Terry McDermott returning to St James’s Park.

The Geordies have had a good start to the league season but Chris Hughton has admitted their ten point haul has “papered over the cracks.”

The squad is wafer thin with just 14 players who have started more than ten games for the club.

Steven Taylor, Fabricio Coloccini and Jonas Gutierrez could yet be sold, deals that would leave United with just two experienced defenders.