Toon Scoff At Administration Claims

30 March 2009 14:09
Newcastle managing director Derek Llambias has played down suggestions the club could be facing the prospect of administration. There had been rumours the Premier League strugglers, who are 18th in the table ahead of Saturday's home match with Chelsea, could be facing serious turmoil if they are relegated against the backdrop of the global financial crisis. St James' Park owner Mike Ashley attempted to sell the club earlier in the season following fans' criticism in the wake of ex-boss Kevin Keegan's exit. Ashley has, at times, also been the subject of jibes from the Toon Army for a failure to spend more on players, but Llambias insists the Tyneside outfit are not feeling the pinch. "It's ridiculous, unfair and unfounded and it's upsetting because there is no truth in it," he told the Newcastle Chronicle. "We're in a situation fighting relegation (where) we need everybody behind us." When asked what would happen if relegation was not avoided, Llambias added: "We would have to restructure our own business plan, like everybody else. "Our finances are strong and there would be no threat of administration. "Mike has been affected by the credit crunch, why should he be different to anybody else? "The club is not for sale and we've made it clear it's not where we want to go."

Source: Eurosport