Rio Ferdinand has defended Mike Ashley’s ownership of Newcastle United, suggesting it makes sense for the magnate to be conservative with his investment.
The Sports Direct owner has been widely criticised for failing to provide funds for manager Rafa Benitez to strengthen his squad, with the Magpies currently embroiled in a relegation battle.
Speaking as a pundit on BT Sport 1 on Saturday evening, as quoted by the Chronicle, the ex-Manchester United defender claimed that Ashley was within his right to spend no money.
He said: “I understand Rafa’s frustrations because as a manager you want the ability to go out and spend money, but they’re not in that position.
“At the same time I understand Mike Ashley. Why is he going to spend more and more money – millions and millions of pounds – when he’s actually looking to sell the club? He’s got them to a point now where they’re back in the Premier League and they’re consolidating to a certain extent.
“They can’t be aiming at being a Man United or a Man City. They’ve got to aim to be a Bournemouth. They’ve only just started spending.
“I’m not saying everything they’re doing is correct. What I’m saying is, I think Mike Ashley, you can’t hammer him and say that he should be spending when he wants to sell the club. You wouldn’t spend on your house when you want to sell it.”
OPINION
Ferdinand’s comments will not go down well on Tyneside, where Ashley is public enemy number one. The fans aren’t expecting him to provide some kid of miraculous war chest because they’ve never been fortunate enough to have that level of investment while Ashley has been in charge, but they do want some kind of gesture, and after years of not bothering, it’s the least the chairman could do. First and foremost, Ashley is a business man, and it makes sense that he wouldn’t want to waste money on a club he’s trying to sell, but it’s shortsighted of Ferdinand to suggest he shouldn’t invest at all. The former defender says ‘you wouldn’t spend on your house when you want to sell it’, but you might have to if it has massive hole in the roof, otherwise nobody would ever buy it. At the moment, Ashley isn’t going to attract the level of offer he wants for the club because he has turned it into a basket case. In the instance, he’s going to have t speculate to accumulate.