Controversial Newcastle United owner Mike Ashley has conceded naivety proved costly in the early stages of his reign at St James' Park.
The billionaire businessmen purchased Newcastle in 2007 and has frequently been criticised for his handling of the club, a theme that has continued with manager Rafael Benitez frustrated by their inability to land certain transfer targets.
Ashley has overseen two relegations from the Premier League during his tenure and confessed removing Sam Allardyce as manager in 2008 showed a degree of ignorance.
When asked his thoughts on his 10 years as owner, Ashley told Sky Sports: "Very naive in the beginning. In the middle I thought I was just about beginning to get my arms around it a little bit, we had a manager on an eight-year contract [Alan Pardew].
"We had the finance right, talked about investing in the training ground and the academy, we had a strategy, buying young talent and developing.
"That was around 2013, 2014, going along quite well, and then within 18 months the wheels had come off, going back to really having to start at the beginning again.
"I probably rushed in too early. The first thing, letting Sam Allardyce go, I was probably too keen to get going and make a difference, and I was a bit naive about how football worked."
Ashley pointed to his decision to change the name of St James' Park to the Sports Direct Arena in 2011 as another error of judgement, putting business interests before sentimentality.
"The first thing you feel is stupidity, because as soon as you know the hindsight of something, you know what you were doing wrong," he said.
"For example, I thought it was the right thing to do was to generate as much money as possible for Newcastle, so when people say to me: 'Whatever you do on an interview do not talk about changing the name of St James' Park!' Well I'm me, and I'm going to talk about making an error, and I should not have changed the name of St James' Park. I should not have done that.
"Football is not all about making money and reinvesting it into football clubs, it has a very strange balance to it. I wanted to get naming rights, get money in and invest it into the club.
"The reality is, the vast majority of the Geordie fans would rather have the name of St James' Park and finish maybe one or two places lower in the table, because they want to keep it special.
"You begin to learn that the special side of Newcastle means a little bit more than the ultimate end performance on the pitch."
|He´s getting better – Zidane backs Benzema|
|Napoli star Insigne unsure if he´ll be fit to face Inter|
|Manchester City can win Champions League, says Napoli boss Sarri|
|Iguodala out of Warriors´ season opener against Rockets|
|LeBron to play in Cavs´ opener against Celtics|
|Sharapova and Kerber suffer first-round exits|
|Berizzo plotting Sevilla´s revenge after Spartak Moscow humiliation|
|Porto boss Conceicao defends Casillas omission|
|We know it´s difficult now, admits Dortmund boss Bosz|
|Krajinovic denies Rublev happy homecoming in Moscow, Ferrer through in Antwerp|
|It´s tough but it´s not over - Van Bronckhorst|
|Monaco know it will be difficult to qualify now, says Sidibe|
|I don´t know what happened - Sarri bemused by Napoli´s slow start|
|We are growing consistently, insists upbeat Zidane|
|Holders Tenerife respond with win over Ludwigsburg|
|I want to stay at Saracens – McCall not interested in Test job|
|Guardiola hails ´perfect´ City after beating ´one of the best´|
|Real Madrid can´t be happy with Tottenham draw, says Navas|
|Klopp heralds counter-pressing as Liverpool run riot against Maribor|
|Liverpool break record in Maribor thrashing|
|City style fades but newfound steel gives Guardiola reason to believe|
|Ederson kept us in it - Walker relieved after City´s second-half wobble|
|Emery backs ´intelligent´ Mbappe to respond|
|APOEL 1 Borussia Dortmund 1: Sokratis header spares Burki´s blushes|
|Feyenoord 1 Shakhtar Donetsk 2: Bernard brace piles pressure on Van Bronckhorst|
|Monaco 1 Besiktas 2: Tosun double pours more misery on Jardim´s men|
|Spartak Moscow 5 Sevilla 1: Clinical second-half show stuns woeful Spaniards|
|RB Leipzig 3 Porto 2: Hosts claim maiden Champions League victory|
|Maribor 0 Liverpool 7: Salah and Firmino doubles inspire rampant Reds|
|Manchester City 2 Napoli 1: Guardiola´s men see off Serie A leaders despite second-half scare|
|Real Madrid 1 Tottenham 1: Ronaldo on target as Lloris heroics earn point|
|´Older, better´ Dzeko feeling good on return to England|
|Kubica has ´another productive day´ of Williams testing|
|Persepolis 2 Al Hilal 2 (2-6 agg): Kharbin at the double as Al Hilal reach final|
|Monaco without Ghezzal and Jovetic for Besiktas clash|
|Hafeez recalled for Sri Lanka T20 series|
|De Bruyne agent eyes Neymar, Mbappe-style wages for Manchester City star|
|Mertesacker not interested in Deeney’s ´cojones´ comment|
|Craig Shakespeare sacked by Leicester City|
|North set to miss Wales´ autumn series with knee injury|
|Messi is the best in the world, says Paulinho|
|Valverde ready for ´emotional´ game against old boys OIympiacos|
|Nadal to miss Swiss Indoors Basel due to knee injury|
|Manchester United expecting a tough game against Benfica, says Ashley Young|
|Froome eyes Paris-Roubaix for Tour preparation|
|Rafinha has ´no interest´ in Barca exit - Mazinho|
|Mourinho would be happy with draw against wounded Benfica|
|O´Neill wary of Eriksen threat after Republic of Ireland draw Denmark in World Cup play-offs|
|NBA Preview: Five key storylines entering the 2017-18 season|
|Warrington pull off Roberts coup|
|F1 Raceweek: Hamilton closing in, new faces and pink tyres|
|Simeone and Atletico wary of Qarabag threat|
|Robben set for landmark as Barca´s Valverde welcomes former side - Champions League in Opta numbers|
|Conte´s harsh words will motivate us, insists Alonso|
|Mourinho: I´m not signing new contract and I´m not joining PSG|
|Bayern´s Martinez out for at least two matches|
|Furyk hints at Woods Ryder Cup vice-captaincy role|
|Besiktas ask fans not to attend Champions League clash with Monaco|
|Porte set for comeback from Tour de France crash|
|Fit-again Morata could face Roma, Conte reveals|
|Juventus must share the blame for defensive woes, says Chiellini|
|Taylor and Jarvis earn Zimbabwe recalls|
|Nice president supports Balotelli for Italy recall|
|Celtic´s Roberts modelled his game on Robben|
|World Cup play-offs: Italy to face Sweden, Republic of Ireland meet Denmark|
|Proteas rest Tahir and Rabada for T20s|
|Juventus are not in any kind of crisis, says Allegri|
|Cobbles, Alpe D´Huez and new climbs await 2018 Tour de France|
|Watford can beat Chelsea claims Cleverley|
|Sigurdsson admits to falling short at Everton|