Newcastle fans launch bid to buy stake in Premier League club

The Newcastle United Supporters Trust (NUST) has asked supporters to pledge small amounts of money for a fund to buy a stake in the club.

The 1892 Pledge, named after the year Newcastle United was formed, hopes to give fans "a small share of the club if it sold while in the Premier League".   -  Getty Images

The Newcastle United Supporters Trust (NUST) launched a fund on Thursday to buy a stake in the Premier League outfit if owner Mike Ashley sells.

Newcastle's proposed 300 million pounds ($412.47 million)takeover by a Saudi Arabian-backed consortium collapsed last year after the group declined independent arbitration.

Newcastle is 17th in the English top-flight with 29 points, three points above the relegation zone with eight games left.

The NUST's fund, called "The 1892 Pledge", urges fans to donate anything over 1 pound.

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"The Trust is raising money so that if Newcastle United is relegated under Mike Ashley (again) and fails to win promotion back to the Premier League (or worse suffers another relegation) ... we are ready to save the club if it needs saving," read the NUST statement.

The fund has four trustees, including former Newcastle and England defender Warren Barton and a member of parliament Ian Mearns.

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"It is the supporters that make Newcastle United valuable. It is me and you. We are the asset that the owner of the club seeks to make millions in profit from," the statement added.

"The 1892 Pledge Scheme seeks to allow us to represent ourselves when the club is sold. We are Newcastle United. This club is our club."