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Newcastle owner Mike Ashley has told boss Rafa Benitez to spend what it takes to help keep the club in the Premier League.

Ashley, who has accused financier Amanda Staveley and her PCP capital partners group of creating a publicity circus over a potential takeover, will now use his own money to try to stave off relegation.

Staveley claims to have made three offers for the club – the last a £250million no clauses deal.

But Ashley insists there has been no evidence of any hard cash being on the table from PCP and has called time on any negotiations.

A source close to Ashley explained: “Mike feels that Amanda Staveley, who he has no problem with as an individual, has played out the attempt to take over the club in public. Most deals he has been involved in have been struck behind closed doors with the announcement arriving after they’re concluded.

(Image: Getty Images Europe) (Image: Clive Rose)

“He has seen all the promises of future investment in the club from her and he knows it makes good reading. But quite simply he hasn’t seen proof that the money is in place and has effectively pulled the plug until that situation changes.”

But the insider added that manager Benitez won’t be left in limbo with the transfer window closing in 10 days time.

Ashley who has the club up for sale at £350 million will fund the necessary spending with Benitez insisting that without the right recruitment Toon are in danger of returning to the Championship after just one season.

He also knows the asking price for any sale would plummet with relegation.