Newcastle owner Mike Ashley has been warned he risks creating a lost generation of supporters if he fails to invest in the club . Thousands of fans stayed away from Sunday 's Barclays Premier League defeat by Tottenham at St James ' Park in protest at the way the sportswear Tycoon is running the club , with the official attendance of 47,427 - the capacity of the stadium is in excess of 52,000 - understood to include many season ticket holders who did not attend . Protesters are calling for a repeat when Swansea head for Tyneside on Saturday , but Mark Jensen , editor of online fanzine www.themag.co.uk , fears longer-term consequences . Newcastle owner Mike Ashley has been urged to invest in the club or risk losing a generation of fans . Newcastle fans hold up 'Ashley Out ' banners , mocked in the style of his Sports Direct chain of stores . Thousands of Newcastle fans boycotted the club 's last game , a 3-1 defeat at home to Spurs on Sunday . Jensen , who himself stayed away from Sunday 's game , said : ' I feel sorry for young people , what they are watching now and this lack of ambition . At least when I was young , the team might have been rubbish and we were going nowhere , but it was exciting to be on the terraces . 'There was so much more wrapped up in it , whereas now if the football is rubbish , I 'm not quite sure what the lure is . 'That 's a long-term danger . Whether Mike Ashley is here in the future or not , there 's a danger that you are turning all these people off Newcastle United and going to the match , especially with the rival attraction of being able to watch it in your local pub . ' Unofficial estimates have put the actual attendance for the 3-1 defeat by Spurs at significantly lower than 47,000 , although some have seemed wildly optimistic . However , there is little doubt that those who answered calls for a boycott made an impact . Jensen said : ' I thought it was a massive success . Comparing it with the walk-out at the end of last season , basically it 's always going to be symbolic . 'It 's not going to bring Mike Ashley to his knees , but to have thousands and thousands of people , or whatever figure you want to put on it , who have already paid for something not going to the match ... 'Imagine thousands of people going to Tesco or Sainsbury 's and buying £30 worth of shopping and saying , 'Hang on a second , I 'm not happy , you can have your shopping back ' . It 's a massive statement . ' Last week 's revelation that the club banked in excess of £34million as well as recording a profit of £18.7million for the last financial year has simply served to increase anger among fans , who have seen a squad assembled on a budget struggle to compete during the second half of the current campaign , and not for the first time in recent years . Tottenham striker Harry Kane nets his 20th league goal of the season to round off a 3-1 win over Newcastle . A fan holds up a sign protesting against Ashley 's ownership as Newcastle slump to a sixth straight defeat . Newcastle midfielder Remy Cabella ( left ) jostles for possession with Tottenham 's Paulinho ( right ) on Sunday . They have not been placated by head coach John Carver 's insistence that there will be investment during the summer , and an increasingly vocal lobby are demanding that Ashley sells up . Jensen said : 'When you see the benefits that he 's getting , as well as now profits in each of the last four years and the way that the TV income is going , to those people who say , 'Why is n't there a buyer ? There is n't one ' - why would n't there be a buyer ? 'The climate of Premier League football has totally changed due to these TV deals , and so if you have got a sustainable Premier League club , especially one with the third biggest attendances , at the right price - and with a willing seller - there is definitely a buyer out there . ' In the meantime , Carver faces the task of attempting to end a run of six successive league defeats , which has left the club just seven points clear of the drop zone , against the Swans . He said : ' I think there 's enough experience to deal with it , yes . But we have got to stop losing players , though , sendings-off , injury ... ' Newcastle fans point towards the club 's rude financial health amid poor performances on the pitch .
Newcastle owner Mark Jensen is an unpopular figure at the club for his perceived lack of ambition and investment in the last few years . Mike Ashley , editor of the Newcastle fanzine , The Mag , predicts that unless Ashley changes his approach the club will lose supporters . The Magpies have lost their last six consecutive league games . Thousands of supporters boycotted the last defeat by Spurs on Sunday .