Newcastle boss Mike Ashley wielding axe in wages war

Newcastle's crippling £74million wage bill is a major obstacle to owner Mike Ashley's hopes of realising his £100m asking price for the Championship club.

The Sunday Mirror understands that, while there is interest in buying Newcastle, would-be purchasers are worried the sums for next season won't add up if salary outlay cannot be slashed.

Mega-earners like Damien Duff, Joey Barton and Obafemi Martins have indicated they are willing to sit tight.

With revenue in the Championship set to halve from the last published figures of £100m, that would present huge financial problems for any new owner next season.

Newcastle need to shave £40m off their wage bill and that means they must sell a raft of players earning upwards of £2.5m a year.

That list includes Duff, Barton, Martins, Alan Smith, Geremi, Fabricio Coloccini and Nicky Butt as well as out-of-contract duo Mark Viduka and Michael Owen, on £9m a year between them.

A Newcastle source said: "The departures of Owen and Viduka will help, but it is a drop in the ocean compared to the cull that is required."

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