Ashley to probe Shepherd role in buy-out clauses

Mike Ashley may use the existence of buy-out clauses in the contracts of Michael Owen and Obafemi Martins to remove Freddy Shepherd as chairman of Newcastle United.

The reclusive businessman, who amassed his £1.9bn fortune through sports retailing, is expected to soon complete his £133m takeover of Newcastle and has already ordered a review of how the club is run. The review will scrutinise every aspect of the club and will also examine the future of Shepherd who still holds the role of chairman - and wants to effectively take on a chief executive's role - despite selling his shares to Ashley.

However the revelation in The Independent earlier this week that Martins' representatives negotiated a clause in his contract allowing him to leave if any club bids £13m - following on from the existence of a similar clause for £9m in Owen's deal - has infuriated Newcastle manager Sam Allardyce. Ashley is also now aware of the details and is said to be unimpressed.

The former Newcastle manager, Graeme Souness, - who was in charge when Owen signed for £17m - has already stated that contract negotiations with players were solely conducted by Shepherd. It means that the club would be powerless to prevent either player leaving should the clauses be triggered.

Allardyce is said to be deeply concerned that Owen's heart is not in staying on Tyneside. Manchester City may become the first club to test that theory especially if, as expected, Sven Goran Eriksson becomes their manager.

Newcastle, meanwhile, have tried to re-negotiate Martins' contract, offering the Nigerian, who joined last summer for £10m from Internazionale, a pay rise despite the fact that he earns £60,000-a-week. The 22-year-old is understood to have made clear that he is keen to return to Italy.

Matters are complicated by the chaotic nature of Martins' life and a wrangle earlier this year as to who represents him. The striker sacked his Italian agent and is now represented by Jonathan Barnett's Stellar group.

Ashley is expected to appoint a member of his staff to conduct the "thorough, objective, strategic review" which will also examine the club's business practices. The review will also consider the findings of Lord Stevens' recent report. Eight of the 17 deals his company, Quest, refused to sign off involved Newcastle or Allardyce.