Ashley sets Newcastle Europe goal

Newcastle last played in Europe during the 2006/07 season

Newcastle owner Mike Ashley wants the club to be challenging for a European spot on a regular basis as part of his long-term strategy.

Ashley, who took over in 2007, watched the Magpies slide into the Championship two seasons ago before winning back promotion at the first attempt.

Managing director Derek Llambias said: “Mike knows where we should be in four or five years.

“We want to be challenging for Europe every season.”

Newcastle last played in Europe during the 2006/2007 season, when they reached the last 16 of the Uefa Cup.

Details of Ashley’s vision come on the day that Newcastle reported a loss after player trading of £17.1m for the year ending 30 June 2010.

However, the figures also revealed that the owner added a further £42m into the club in interest-free loans during the reporting period, taking the total he has loaned the club to £139.8m.

“Mike Ashley’s money has kept this club buoyant,” added Llambias.

“Quite honestly, Newcastle United would not be here without him, it is as simple as that.

“He has never taken a penny out of the football club, but he knows what he has to put in every year and he is keen to grow it.”

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