Newcastle United have released a statement effectively ending speculation over Alan Pardew's future as manager.
Magpies Managing Director Derek Llambias says he met with Pardew and club owner Mike Ashley on Wednesday to discuss the reasons behind their disappointing Premier League campaign.
Llambias said on the club's official website:
– Derek Llambias, Managing Director for Newcastle United
"Everyone connected with the club was disappointed to finish where we did last season, particularly on the back of such a fantastic year prior to that.
"Our discussions on Wednesday were very constructive and we pinpointed a number of factors that contributed to a season which fell below expectations.
"We are now looking forward and are entirely focussed on the forthcoming campaign, with the expectation of at least a top-ten finish in the Premier League.
"There has been a great deal of speculation in recent weeks but our desire, as we announced back in September, is to bring long-term stability to this club. It's up to us all now to work closely as a team to ensure next season sees us competing in the top half of the table again.
"We would all like to thank the fans for their continued support and assure them we remain committed to providing affordable football at St. James' Park."
Despite finishing 5th in 2011/12, Newcastle finished 16th in the Premier League table last season.