Newcastle not for sale, as Hughton gets top job

Newcastle United have named Chris Hughton as their permanent manager and have confirmed that the club have been withdrawn from sale and is no longer on the market.

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Hughton has guided Newcastle to the summit

The club had been trying to broker a deal with a number of prospective buyers in recent months however none of those deals came to fruition and a statement on the Newcastle official website read:

''With regard to the possible sale of the Club to Barry Moat, that particular bid has now fallen through due to the cash price of £80 million not being met. In confirming the news, Mike Ashley stated that he is totally committed to the future success of Newcastle United and will be focussing on gaining promotion back to the Premier League. Mike will put a further £20 million into the Club this week.

''Whilst confirming these two matters, Newcastle United now aims to move forward on and off the pitch. The Club aims to maximise its commercial revenues; this includes renegotiating its Club sponsor and kit deal, which expire at the end of this season, as well as welcoming offers for the stadium naming rights for next season.''

Derek Llambias, Managing Director of Newcastle United, said: "We are delighted that Chris has accepted the post of full time manager. He has done a terrific job this season and we wish him every success for the rest of this season and beyond. He will continue to receive our full backing and support."

New manager Chris Hughton added: "It is a very proud day for me to be named as the manager of this magnificent football club. I thank Mike and Derek for their support and will be doing everything in my power to get the Club back into the Premier League at the first time of asking.

"Having the unequivocal backing of the players has helped me enormously and I would also like to thank Colin Calderwood, Paul Barron and the rest of the backroom staff who have never been anything but tremendously supportive to me this season."