£20 million goes on running costs at St James's Park

Nov 2 2009 by Luke Edwards, The Journal

CHRIS Hughton has admitted he does not know how much he will see of the £20m Mike Ashley has pumped into Newcastle United following the announcement Barry Moat’s takeover attempt had collapsed last week.

Although Hughton confirmed Ashley’s investment, it is understood the money is needed to cover running costs and it is unlikely there will be much to spend in the January transfer window.

Instead, Hughton is expected to have to rely on the loan market again, which does carry costs in terms of wages and even a fee, as he downplayed hopes Newcastle would finally flex their muscle in the transfer market in the New Year. He said: “The money that has been put into the club is money that had to be put into it anyway. I have not been told any figures, but what I have been told is that I will be supported in their endeavours to get things right on the pitch.

“Of course around that will be the January window and outside that will of course be loan signings that every club in this division will endeavour to bring in.

“What you have is a club that wants to get back in to the Premier League and the best opportunity to get back into Premier League is the first opportunity and the club is aware of that. The most important thing for me is that I have been given assurances that I will be backed in the windows.”

However, Hughton does feel as though he will finally get the chance to rebuild the squad now that Ashley is staying after the firefighting of the summer and emergency repairs needed since.

He said: “This is a big club that wants to be in the Premier League. What we have had to do is take a massive step backwards.

“We are not in the Premier League any more so it is almost like building again, and what we have to do is take the appropriate steps as they come along.”