Newcastle United owner Mike Ashley is ready to end his
controversial reign after putting the Premier League club up for sale on
Monday.
Ashley
has been a polarising figure at Newcastle since taking over at St James' Park
in 2007 and the sports retail tycoon has decided now is the time to step down.
Newcastle
have been relegated from the Premier League twice in the Ashley era, with the
53-year-old angering Magpies fans with his failed managerial appointments and
his decision to sell naming rights to the club's historic stadium.
Ashley
has frustrated current Newcastle boss Rafael Benitez by failing to back the
Spaniard in the transfer market.
Benitez
has publicly complained about Newcastle's spending on several occasions since
leading them to promotion from the Championship last season, with Ashley
responding that he doesn't have the cash to compete with superpowers like
Manchester City, Chelsea and Manchester United.
Now
Ashley, who paid £134 million ($178 million, 150 million euros) for Newcastle,
reportedly hopes to find a new owner by the end of the year following the
formal announcement of his sale plan.