Newcastle owner Ashley also owns nine per cent of Rangers, and had been linked with a takeover of the crisis-hit Scottish giants.
There had been the threat that, should Ashley take control of Rangers and get them into Europe, then it would have stopped Newcastle playing continental football because of UEFA’s dual ownership regulations.
However, Newcastle’s board, in minutes released after a Fan’s Forum, said that the Toon owner won’t risk United’s European qualification because of his involvement with the Gers.
The minutes said: “The board stated it is aware of the UEFA regulations regarding the situation. The club and its owner would not put Newcastle United in a position where it would lose a European place because of Rangers.”