Newcastle owner Mike Ashley will hold talks with Alan Shearer to plan a quick return to the Premier League for the club.
The Magpies where dumped into the Championship on Sunday following their 1-0 defeat at Aston Villa.
Sky Sports reports that the relegation could cost the club between £30million and £60million.
Managing director Derek Llambias told the club’s official website: “Being relegated from the Premier League is a huge disappointment for everyone involved with Newcastle United.
“We are all hurting and I feel desperately sorry for everyone associated with Newcastle United; for Mike, who has invested heavily in the club, and for all the supporters who have given the team magnificent backing up and down the country all season long.
“Mike and I will sit down with Alan this week to discuss how the club moves forward again, and I hope to be able to say more to our supporters later this week.”
[Source: Newcastle’s official website]
Alan Shearer should have taken the job alot earlier in the season. Hind sight is a beautiful thing though.
Of course, I knew the Magpies were gonna fall, but i was hopin they wuldnt anyway.
I may be a Man U fan but i do like Newcastle a bit….. I dont like seein em fallin out of the Premiership. not one bit.