A representative of the Ashley camp suggested at the weekend that fans should join forces to acquire the club themselves if they wanted to run it, and that is exactly what Newcastle Fans United hopes to do.
The pressure group, which has the backing of the supporters' campaign website www.savenewcastle.com, has recruited top sports lawyer Mel Goldberg to front a bid to raise the cash to buy Ashley out.
That could mean the equivalent of 300,000 people investing £1,000 each with shareholders having an equal vote on how the club, which could also be afforded charitable status as a result, is run, although team affairs would be left to the manager.They hope the likes of Keegan and club legend Alan Shearer will back their attempt to put the club into the hands of its supporters.
Spokesman Peter Lee said: "Newcastle Fans United are a team of consultants supported by top sports lawyer, Mel Goldberg.
"We seek to create a 'Socio' owned club, similar to FC Barcelona. We urge all Newcastle fans and all supporters of football around the world to get behind the bid."
The facts and figures ...
1) According to the last census, the population of Northumberland is 307,186.
2) 72,489 are under 18, so we can rule out those having £1,000 to give away.
3) 54,038 are over 65.
So that leaves 180,659 between 18 and 65; with probably 180,000 of those in debt.
But debt apart, if everyone in Northumberland (aged between 18 and 65) gave £2,656 to Mike Ashley to raise his £480m, we could do it.
What do you think the chances are?