Mike Ashley eventually managed to sell Newcastle and, in celebration, told Toon Senna: “I know it wasn’t working on the pitch.”
An 18-month fight to end his struggle at Tyne ended with a £300 million deal with the Saudi Arabian Public Investment Fund.
And the sportswear billionaire recognizes that the new Toon owners have the deep pockets needed to actually turn the club’s fortunes around.
Speaking to SunSport, Ashley said: “Owning a football club gets in your blood and I would love nothing more than to see Newcastle win trophies.
“I acknowledge that during our time at Newcastle we have not achieved the full potential of the club on the field.
“But I believe we got a lot of things right off the pitch.
“I am proud to leave the club on a solid financial footing with no debt, which is clearly a good foundation for the club to move forward.”
Ashley, who reportedly spent £134m and took out a loan to acquire his stake in Newcastle in 2007, has been trying to pull out of the club for most of the past four seasons.
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Fans rejoiced at his departure but Ashley said she had no ill-will despite the criticism that came her way.
He continued: “I am delighted that Newcastle United, a union backed by the PIF, are the new owners. I am sure it will give the fans the success they deserve.
“I have always said that I will only sell to a new owner if they can invest the money needed to enable Newcastle United to compete at the highest level.
“I believe this change of ownership holds true to that principle.”