Derek Llambias: "Everyone connected with the Club was disappointed to finish where we did last season, particularly on the back of such a fantastic year prior to that.
"Our discussions on Wednesday were very constructive and we pinpointed a number of factors that contributed to a season which fell below expectations.
"We are now looking forward and are entirely focused on the forthcoming campaign, with the expectation of at least a top-ten finish in the Premier League.
"There has been a great deal of speculation in recent weeks but our desire, as we announced back in September, is to bring long-term stability to this Club.
"It's up to us all now to work closely as a team to ensure next season sees us competing in the top half of the table again.
"We would all like to thank the fans for their continued support and assure them we remain committed to providing affordable football at St. James' Park."
What the hell is "stability" ... keeping a manager who has under-achieved his entire football career?
You want "stability" when you are successful; not when you went into the last week of the season fearing relegation!
Ambition? There's none to be found here. If there was, Alan Pardew would have been fired.
So why is Ashley sticking with his man?
Because he is the cheapest option! Nothing more - nothing less.
How much would it cost to pay up Pardew's contract?
And a new manager would demand far more funds than Pardew is going to get this summer.
He wants Andy Carroll - but he won't get him.
Ashley knows many of Pardew's signings have still to prove their worth - the French brigade brought in during the January transfer window - as well as Obertan, Anita and Amalfitano.
Ashley WON'T be spending big this summer, because he has a manager hanging by his knackers - just WAITING for the chop.
Pardew is in the 'Last Chance Saloon' ... and we are all waiting for 'last orders'.