On the 7th of June Freddy Shepherd's last shares of the club were sold at the request of Mike Ashley and Shepherd was removed as the chairman Chris Mort on 25 July. Ashley then announced that he will remove the club's listing off the London Stock Exchange upon completion of the acquisition. The club officially stopped trading at the Stock Exchange as of 8 am on the 18th of July at 5p per share.
Allardyce left the club January 8, 2008 through mutual agreement following a poor start to the 2007-08 campaign Then, Kevin Keegan was reappointed as Newcastle manager. Mort quit from the chairmanship in June. He took over by Derek Llambias, a long-term friend of Ashley. Newcastle finished the season in the 12th position however, as the season was drawing to a close Keegan was vocally critical of the board, claiming they weren't giving enough financial backing to the team.
Then, in September of 2008 Keegan quit as manager and stated: "It's my opinion that managers be able to manage and that clubs shouldn't force any manager to manage a player that he doesn't would like". The former Wimbledon director Joe Kinnear was appointed as his replacement. However, on February 9, 2009 following his heart operation, Alan Shearer was appointed interim manager in his absence. Under Shearer the club was eliminated from the Football League Championship at the conclusion of the season 2008-09 which was the first time that the club was not in to the Premier League since joining it in 1993.
Following their demotion The club was offered for auction in June 2009 with a offer in the region of PS100 million. Chris Hughton was given the manager's position on a temporary basis prior to taking over the full-time position on October 27, 2009. On the same day Ashley declared that his club would no more being offered for sale.
Hughton was the team captain who led Newcastle to victory in the 2009-10 Football League Championship, securing an automatic promotion on the 5th of April 2010 with only five games remaining and winning the victory on April 19th. Newcastle were promoted back into the Premier League after just one season without.
Under the leadership of Hughton, Newcastle enjoyed a good beginning to the season 2010-11 However, he was dismissed on December 6, 2010. The board of Newcastle said that "an person with more managerial expertise was required to lead the club to the next level." The next day, Alan Pardew was appointed as manager, with a five-and-a half-year contract. Despite some turmoil, Newcastle were able to finish in the top 12 at the conclusion of the season. the highlight of their season was a draw at home 4-4 against Arsenal which was a game that saw Newcastle recover from four goals behind to take one point.
The season 2011-12 was a huge success and they continued to have one of their best beginnings of the season. They played 11 games in a row without losing. Newcastle finally secured a place for the 2012-13 Europa League with a fifth-place place, which was their highest level of play in the league since Bobby Robson days. More honours would follow as Pardew took home two awards: the Premier League Manager of the Season award and the LMA manager of the year Awards.
The following season Newcastle did not make any acquisitions during the summer, and also was plagued by injuries throughout the course of the season. In the end, the beginning of the campaign was marked by a string of losing 10 times in 13 games. This led to the club falling into the bottom of the table. In the Europa League campaign was largely successful , with the team reaching the quarter-finals , but losing to eventual winners Benfica. In the domestic arena, Newcastle struggled, and kept their hopes alive after a 2-1 win against previously-relegated Queens Park Rangers on the last fixture of the year.
The 2014-15 season was a time when Newcastle lose one of their seven matches, which prompted fans to begin an effort to have Pardew fired as manager, before an improvement in their performance saw them rise to fifth place in the league. Pardew quit for Crystal Palace in December. On January 26, 2015 the deputy John Carver was put in charge for the rest of the season. However, the club nearly lost the league and stayed in the top spot on the final day of the season with an 2-0 win at home in the match against West Ham, with Jonas Gutierrez who was able to beat testicular cancer earlier in the season scoring the second goal of the game.
On the 9th of June, the 9th of June, 2015 Carver was dismissed and succeeded with Steve McClaren the following day. On the 11th of March, 2016 McClaren had been dismissed after just nine months of his tenure as Newcastle's manager, with Newcastle at 19th on the Premier League and the club had won only six out of the 28 Premier League games during his time as manager. The Spaniard who replaced him was Rafael Benitez on the same day, signing an agreement for three years. However, he did not stop the club from being eliminated twice under Ashley's management.
Newcastle made it back to The Premier League at the first attempt, and won the Championship title on the 7th of May 2017 after a 3-0 victory against Barnsley. On the 16th of October, 2017 Mike Ashley put Newcastle United available for sale for the second time. The club finished their season by winning a 3-0 victory over champions Chelsea which saw them finish 10th in the league. This was their best performance in four years. The subsequent season saw a 13th place finish, even though they were within the zone of relegation by January. In the process, Ashley became the subject of more criticism for his inability to investing in the team and apparent focus on his other business ventures. Benitez was dismissed on June 30, 2019 after declining a contract extension.
On the 17th of July, 2019 on 17 July 2019, the former Sunderland boss Steve Bruce was appointed as manager on a 3-year contract. Bruce was responsible for 13th and 12th-placed results in his first two seasons as manager and both were infected by the COVID-19 epidemic.