Club statement, Tuesday night:
Newcastle United are delighted to announce that Chris Hughton has been named the permanent manager of the Club, his contract will run until the end of the 2010/11 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.”
And 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.”
The statement continues:
At the same time the Club has confirmed that it has been withdrawn from sale and is no longer on the market.
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. 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 £80m 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 focusing on gaining promotion back to the Premier League. Mike will put a further £20m into the Club this week.
There’s no mention there of what that amount is for, but Monday’s Daily Telegraph predicted that:
“….Ashley intends to hang onto the club in the hope that they gain automatic promotion. If he does remain in charge he is likely to have to write off at least another £20m to cover projected losses this season.”
The statement concludes:
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.