Source: PA
Newcastle hierarchy eye European challenge
Newcastle owner Mike Ashley wants to re-establish the club as European contenders as he pursues his long-term plan.
The sportswear magnate presided over the club's slide into the Championship at the end of the 2008-09 season, but bankrolled its swift return and is determined to push ahead with his blueprint for stability on and off the pitch.
Managing director Derek Llambias confirmed Ashley's intentions after the Magpies reported a loss after player trading of £17.1million for the year ended June 30, 2010.
Llambias said: "Mike knows where we want to be and where we should be in four or five years' time.
"Our vision for the club is to finish 10th or above every year, year after year.
"That is our target - we want to be challenging for Europe every season."
