<strong>June 2007</strong><br />Ashley buys Newcastle United for &pound;134m, greeted with a level of scepticism unusual for a buyout.<br /><br /><strong>January 2008</strong><br />Brings back local hero Kevin Keegan to manage the club in a blaze of glory.<br /><br /><strong>September 2008</strong><br />Keegan exits the club citing &ldquo;interference&rdquo;. Ashley faces a huge backlash, prompting him to&nbsp; announce his intention to sell.<br /><br /><strong>Autumn 2008</strong><br />Joe Kinnear takes over as manager of the club following Keegan&rsquo;s departure.<br /><br /><strong>February 2009</strong><br />Kinnear taken to hospital following a heart attack. His assistant Chris Hughton is appointed temporary manager.<br /><br /><strong>April 2009</strong><br />Former Newcastle player and BBC pundit Alan Shearer is appointed manager until the end of the season.<br /><br /><strong>24 May 2009</strong><br />Newcastle drops out of the Premier League following a 1-0 defeat to Aston Villa.