When Barry Moat's Newcastle United takeover bid failed, a lot of supporters feared that without money to invest in players, we'd struggle to add to our already depleted squad. The current Newcastle squad is probably just good enough to get out of the Championship, but without further investment, it's looking bleak for our future Premier League survival.

When Sol Campbell signed for The Magpies, there were many who thought he just got his directions wrong when he ended up at Notts County. An ex England international with a distinguished career, playing for a League Two club, but for how long? The accusations levelled against Campbell were that he walked out during a training session.

Just when we thought things couldn't get any worse, news tonight emanating from St. James Park is that Mike Ashley has removed Newcastle United from the market and the club is no longer for sale.

Here is the press release in full from the club's official website:

NEWCASTLE United are delighted to announce that Chris Hughton has been named the permanent manager of the Club, his contract will run until the end of the 2010/11 season.

Mike Ashley, Newcastle United's much maligned owner has dropped the price of the club to £80 million. Ashley has given Barry Moat one more week to come up with the funds to buy the club (even though a few weeks ago we were told he had made a formal offer and that money was in the bank).

This has only been confirmed by Marlon Harewood's agent (via Sky Sports), but it appears that the big striker is set for a loan move to the Toon. We could do with him too as Shola Amoebi is knackered for the forseeable future.

Harewood would be a decent backup. Coming back from injury, we would provide the first team football he's craving and give him the opportunity to show that he can still do the business.

This has only been confirmed by Marlon Harewood's agent (via Sky Sports), but it appears that the big striker is set for a loan move to the Toon. We could do with him too as Shola Amoebi is knackered for the forseeable future.

Harewood would be a decent backup. Coming back from injury, we would provide the first team football he's craving and give him the opportunity to show that he can still do the business.

Potential Newcastle United owner Barry Moat has been given an extended deadline by current Chairman Mike Ashley, as the Tyneside businessmen is in talks with Barclays bank to secure enough funding.

A club statement from the official site reads as follows:

NEWCASTLE United Football Club confirms that it has extended its deadline to Barry Moat to table an offer for the Club.

According to Sky Sports News, Newcastle United have received an offer believed to be in the region of 4 million, for Damien Duff.

Duff, who has another three years left on his contract is one of the players on 50k p/week (or higher). It seems like Toon fans are divided to whether we should accept it or not.

One of the front runners in line to buy Newcastle United have today withdrawn their interest. The Profitable Group, represented by Steve McMahon, were alleged by some to just be drawing up publicity and any serious involvement by them was met with skepticism by supporters.

However, there are some reports that they could not prove that they had the funds to meet the asking price.