If he wraps it up quickly this could be one of his better decisions. He arrived as the billionaire owner of Sports Direct and he is leaving with a lot less (£700M according to the 2009 Sunday Times rich list) after shares dropped in his investments. Ashley who bought Newcastle United FC for £135M placed the club on the market last year for £400M before withdrawing due to lack of interest. It is alleged that he is so keen to be rid of the club he is willing to accept a bid of just £80M, rather than support the team he has failed and help them regain Premiership status.

He told The Sunday Times;

"It's been catastrophic for everybody. I've lost my money and made terrible decisions.

Now I want to sell as soon as I can. I am genuinely sorry for everybody for what has happened."

Asked if he regretted ever buying the club he said;

"Of course I regret it, I never said I was an expert in football clubs, I was just a fan - although a very wealthy fan, but I'm not so wealthy now.  I put my money into it and I tried my best, but I accept my best was woefully short.

Seeing Newcastle relegated has been a catastrophe for us all.  I fully accept that mistakes were made during this and previous seasons, and I am very sorry for that.

I would like to say sorry to our magnificent supporters who have turned up in their thousands, home and away, up and down the country and who have given the team amazing backing throughout.

And I would also say sorry to all of the club's hard-working staff, who have gone about their jobs all year long."

The news adds to the difficulties in talks with Alan Shearer. The club held talks with Shearer for much of last week, with Mike Ashley allegedly being absent from the majority of meetings. News that the club is back on the market could hinder all contract negotiations for both players and potential managers.

It is now time for Mike Ashley to make the best decision of his Newcastle ownership and get out quick. Let someone who gives a damn build the club back up, support the manager and not jump ship when the going gets tough. Because for as much as Ashley thinks his apologies are worth something, there are still thousands of fans who will be attending matches next season in support of Newcastle United and that will be made a lot easier in the knowledge there is someone at the helm who is going to be in it for the long haul who won't abandoned them at the first hurdle.

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