Ashley is no longer interested in selling the Magpies and is instead making a plan for next season should the club manage promotion back to the Premier League.
“Mike is already looking at next season and what can be done if promotion is achieved,” a source close to Ashley told the Telegraph.
“All the cuts made over the past year have put the club on a very sound financial footing. Most Premier League sides would love to be in a similar position.
“Without Mike’s input, the club would be broke. Simple as that. He knows mistakes have been made but really wants to see the club back where they belong.
“It’s not him being over-confident. Chris Hughton has done a fantastic job but plans need to be made for what could be an exciting time next season for everyone.”
