The Toon owner has said on Sunday "I am not in this to make a profit, I bought Newcastle United because I love football".
But we hear he is apparently demanding £481m for the club - nearly double what he spent to buy-out the Hall and Shepherd families and wipe out a large chunk of its debt.
Greedy Ashley Set For Major Fall!
Dubai-based Zabeel Investments were ready to offer him £200m and a meeting was set up at the plush Madinat Jumeirah Hotel hotel.
But Ashley decided not to attend and reports claim he stayed in the bar drinking Mojito cocktails and chatting to girls instead.
Never in all of my days following Newcastle United have I known a more HATED figure on Tyneside than Ashley.
The feeling is reaching boiling point with supporters, and the protest on Saturday (for the Hull City fixture) is going to be small fry to what the Cockney billionaire can expect in future!