Mike Ashley has hit out at media reports that he intentionally flashed a 'V sign' to supporters after a dinner on Wednesday night.
Ashley had arranged for a meal with Newcastle manager Rafa Benitez and players in the hope of clearing the air and boosting morale after the Magpies' winless start to the Premier League season.
Newcastle remain in the relegation zone after five defeats and two draws this term and with a very genuine danger of the club spiralling out of control, managing director Lee Charnley initiated a dinner.
Supporters got wind of the meeting, however, and showed up outside the restaurant to voice their dissatisfaction about how their club was being run.
Footage captured by supporters showed Ashley, who has not come close to selling Newcastle, getting into a car and some media reports claimed that he made an offensive gesture through the window.
But Ashley maintains that he did no such thing.
In a statement, Ashley said: "I did not make a 'V-sign' to anyone. To suggest otherwise is both inaccurate and irresponsible.
"The matter is in the hands of our legal team and they will be contacting relevant newspaper editors in due course.
"It is hugely disappointing, given the reason why we set up the meeting, that certain elements of the media are trying to undermine the club by creating a story out of nothing."
