Keegan left his post as Magpies coach ten days ago due to a disagreement with the club's board over transfers.

The England legend's departure prompted Newcastle fans to turn the tables on billionaire Ashley, who made his decision after 16 months at St. James' Park.

"I have really loved taking my kids to the games, being next to them and all the fans," Ashley said in a lengthy statement on Newcastle's official site.

"But I am now a dad who can't take his kids to a football game on a Saturday because I am advised that we would be assaulted.

"Therefore, I am no longer prepared to subsidize Newcastle United.

"I am putting the club up for sale. I hope the fans get what they want and that the next owner is someone who can lavish the amount of money on the club that they want."