'WELL-RUN'
Newcastle hit back at Labour leader Jeremy Corbyn over claims 'bad owners' like Mike Ashley are 'ruining football'
Gary Stonehouse
Updated: 8 Oct 2019, 19:18
NEWCASTLE have slammed Labour leader Jeremy Corbyn over his criticism of Mike Ashley.
The Premier League club released a statement this afternoon hitting back at the MP, insisting their owner "has not taken a​ ​penny out of​ ​Newcastle United".
Newcastle have launched a fierce defence of owner Mike Ashley (right) after Labour leader Jeremy Corbyn (left) criticised him on a visit to the North East
Corbyn visited the North East city on Saturday and took aim at "billionaire owners" for ruining football – but the Magpies have retaliated by arguing they are "well-run, responsible ​club" in a fierce defence of their current ownership.
The Newcastle statement released on the club's website read: "We are disappointed by comments made by Labour leader Jeremy Corbyn at the weekend regarding football governance and club ownership, in which he specifically attacked​ ​Newcastle​ ​United.
"Amongst his comments, Mr Corbyn accused 'billionaire owners like Mike Ashley' of 'ruining our​ ​national game', claiming these 'bad owners' put their 'business interests above​ ​everything else' and​ ​risk their clubs' financial security.
"In overlooking existing governance and regulation, as well as the hugely positive impact​ ​Newcastle​ ​United and other professional clubs have in their communities, Mr Corbyn has demonstrated a​ ​surprising lack of knowledge about our national game.
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"We feel, therefore, it is important to address his damaging and misinformed opinions in the interests of the club and its supporters."
It continued: "Financially, other than sums provided to the club on a short-term, interest-free basis and​ ​repaid to​ ​him as intended, we would like to make it clear that Mike Ashley has not taken a​ ​penny out of​ ​Newcastle United in interest, salary or dividend, as is customary at many clubs.
"As stated on numerous occasions before, every penny Newcastle United has will continue to​ ​be​ ​available to it. In this financial year, the club will use an overdraft facility to manage its​ ​cashflow​ ​following a significant spend on talent in the summer.
"As a well-run, responsible​ ​club, that amount​ ​will be repaid in full and on time and our other regulatory obligations will be met.
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"We will not apologise for being financially sustainable, but we will push the boundaries of our budgets as far as possible to maximise the impact on the team. We agree with Mr Corbyn that 'a football club is more than just a club; it is an institution at the​ ​heart of our communities'.
"That is why our vast work across the local community will continue, with Newcastle United Foundation providing services and support to tens of thousands of people in our region each​ ​year​ ​who truly need them.
"Often, Newcastle United Foundation's projects fill in significant gaps that the public sector​ ​sadly​ ​cannot stretch to, particularly at a time when government cuts are so prevalent.
"We would like to invite Mr Corbyn to visit one of these initiatives to experience at first hand​ ​the​ ​incredible work that is being undertaken by the Foundation in our local community every day."
WHAT CORBYN SAID:
"There are people here tonight I'm sure who support Newcastle United. But none of you are very happy with how that club is run, are you?
"And I will be meeting some of the supporters later on about the way to bring democracy into football, the way a Labour government will make the Premier League clubs pay money for grassroots football and the way that fans will be empowered.
"Football shouldn't be just a business, football is our lives, our community and it's the place where people go to socialise and enjoy each other's company.
"Let's take the beautiful game away from the billionaires and hand it to the fans instead."