10 Jun 2009

Newcastle for sale at bargain price

12:37 pm on 10 June 2009

Newcastle United's owner Mike Ashley has officially put the relegated English Premier League football club up for sale at a cut-price $255 million.

Ashley, who became a near-billionaire when he floated his sports equipment retail business on the stock market in 2007, bought Newcastle for $360 million and ploughed in another $255 million.

He tried to sell the club for a billion dollars last year but couldn't find a buyer.