NEWCASTLE, England (AP):

Newcastle manager Joe Kinnear urged Mike Ashley to invest in new players after the embattled owner took the Premier League club off the market saying no suitable offers had been forthcoming.

Ashley had hoped to end the uncertainty at the club with yesterday's announcement, but it was followed by Liverpool inflicting a 5-1 drubbing that exposed the team's deficiencies.

Ashley has spent three months trying to offload the club after saying he couldn't afford to match the fans' ambitions or cope with the threats to his safety following Kevin Keegan's resignation as manager.

Disgruntled supporters staged mass protests at St James' Park in September and boycotted matches after Keegan said his power was being eroded by interference from club directors.

"We need to get (Ashley) back on board and we need to sit down and discuss the future of the club first and foremost and the strength of the team and what direction we are going in," said Kinnear, who is contracted until the end of the season.

"We need to get players in to strengthen the squad and make sure we stay in the league, first and foremost. We have suggested players to Mike that I would like and it's really wait and see what price they are."

Ashley bemoaned the club's debt when announcing his search for a buyer in September, but said he will try to find the money for reinforcements.

"With the January transfer window approaching, we will be working closely with Joe to see what can be done to strengthen the squad," Ashley said in yesterday's matchday magazine.

Despite initial interest from at least eight investment groups - including an unnamed American consortium, whose offer was well below Ashley's asking price - the worsening global financial crisis ultimately stymied a sale.

After buying the club in May 2007 for 134 million pounds (then US$270 million; €200 million), the sports tycoon watched matches in a replica jersey among the fans, who haven't had a trophy to celebrate since the 1955 FA Cup. The Magpies haven't won the league since 1927.

Ashley will hope yesterday's statement appeases the huge fanbase in this single-club city in northeast England and pave the way for him being able to watch a match for the first time since Keegan's dramatic exit after less than seven months in charge.

"I am happy to end the uncertainty the fans may have had about the future direction of Newcastle United. I know just how important that is to you," Ashley said. "I have withdrawn Newcastle United from the market and for me 2009 will be the year in which we drive the club forward together.

"Even when I haven't been at games I have remained a keen supporter, kicking and heading every ball and cheering the team on TV and being first to congratulate Joe (Kinnear) whenever there's a good result."

Newcastle United Supporters' Club spokesman Michael Ord said he was disappointed that Ashley has now conceded defeat in finding investors.

"I am unhappy about it," Ord said. "This man said, 'I will not subsidise Newcastle United any further.' There is nothing in that statement that tells us that he is going to provide funds. I am at a stage where I do not believe a word this man says.

"He needs to start thinking long and hard about what he is saying, because I don't think Mike Ashley will take Newcastle forward at all."