Newcastle no longer for sale

NEWCASTLE: Fallen giants Newcastle are no longer for sale after owner Mike Ashley took the club off the market on Tuesday and then confirmed Chris Hughton will remain the Championship leaders' manager.

Hughton has been given a contract until the end of the 2011 after taking Newcastle to the top of English football's second tier. Ashley also pledged to put £20 million into Newcastle this week to keep them financially stable following his unsuccessful attempt to sell the club.

He had spoken to various prospective buyers in recent months without being able to close a deal and Newcastle confirmed that a bid fronted by local businessman Barry Moat had fallen through after he failed to come up with the asking price of £80 million. A statement explained the club's long-term plan —including renaming St James' Park. It said: "Whilst confirming these two matters, Newcastle 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."