And five years is still to run.
Pardew won't leave until he picks up his five year deal, putting Ashley in a position he did not want to be in ... handing out MONEY!
So, what is the way round this tricky situation?
Well you could always promote someone within the club, and save a fortune!
That is why we read that Fabricio Coloccini could be appointed as Newcastle manager if current boss Alan Pardew is sacked.
According to The Telegraph, if the club fail to improve their results, Ashley may decide to name Newcastle captain Coloccini as Pardew’s replacement.
It is thought that Steve Bruce and David Moyes are the club’s preferred long-term candidates for the role, but Newcastle bosses are confident that Coloccini would be able to step up to the task after doing the same last season while Pardew served a stadium ban.
Although Pardew’s assistant, John Carver, was handed control of the squad during the suspension, Coloccini delivered half-time team talks and had more involvement over how the side trained.
The defender recently committed his future in Tyneside despite expressing his desire to return to his homeland and join Argentinean side San Lorenzo.