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By ESPN Staff

Newcastle sale reports 'utter nonsense' - Llambias

New Newcastle managing director Derek Llambias insists speculation owner Mike Ashley is looking to sell the club is 'utter nonsense'.

Reports last week claimed American investors InterMedia Partners had been approached about a possible takeover of the club.

Ashley bought Newcastle for £134.4million last summer and has since invested £100million in paying off debts and strengthening the squad.

Llambias, promoted from his role as deputy chairman following the departure of Chris Mort last month, insists the current regime is committed to the club.

'At a time when everyone at Newcastle United is working hard to prepare for the new season ahead, it is annoying that we have to continually correct inaccurate newspaper stories,' he told club's official website.

'Whoever is putting these stories around is clearly trying to destabilise the club and you wonder what their motives are for doing this.

'By putting a new management structure in place this year, by investing in new signings at first team and academy level, and by introducing cheaper tickets for our younger fans, the long-term commitment and vision for Newcastle United is there for all to see.

'Those actions speak louder than any words and I'm sure supporters see these stories for what they are - utter nonsense.'

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