Ashley secured a £134.4m takeover of Newcastle last summer and has since ploughed around £100m into the club to address the debt situation he inherited and to strengthen the squad.
The owner of sports goods company Sports Direct International also brought back popular manager Kevin Keegan to St James' Park to replace Sam Allardyce.
New Newcastle managing director Derek Llambias hit out at the speculation, despite the revelations from InterMedia.
He said: "Whoever is putting these stories around is clearly trying to destabilise the
club and you wonder what their motives are for doing this.
"By putting a new management structure in place this year, by investing in new
signings at first team and academy level, and by introducing cheaper tickets for
our younger fans, the long-term commitment and vision for Newcastle United is
there for all to see.
"Those actions speak louder than any words and I'm sure supporters see these
stories for what they are - utter nonsense."
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