NEWCASTLE United Managing Director Derek Llambias has rubbished tabloid speculation that the Club could soon be sold.

The Magpies have installed a new-look executive management team ahead of the new season which is committed to furthering the long-term development of the Club.

And, with reports emerging over the weekend that the Club could be put up for sale, Mr Llambias has moved quickly to correct such rumour.

"At a time when everyone at Newcastle United is working hard to prepare for the new season ahead, it is annoying that we have to continually correct inaccurate newspaper stories," he explained.

"Whoever is putting these stories around is clearly trying to destabilise the Club and you wonder what their motives are for doing this.

"By putting a new management structure in place this year, by investing in new signings at first team and academy level, and by introducing cheaper tickets for our younger fans, the long-term commitment and vision for Newcastle United is there for all to see.

"Those actions speak louder than any words and I'm sure supporters see these stories for what they are - utter nonsense."