The loss prompted fans to voice their frustration on social media.
Ashley is attempting to sell the club and is in talks with Amanda Staveley's PCP Capital Partners Group, with the two sides unable to agree a price.
And Neville echoes his fellow pundit's thoughts, insisting United desperately need reinforcements in the upcoming transfer window. We had some problems and now we are bringing back players and that is good news, because - in the end - I always say the same: "the competition between players is the key for us". "They are a good team and have a great manager with quality on the team".
This comes just a day after Newcastle manager Rafa Benitez warned Ashley that a failure to invest in the squad in the January transfer window could ultimately lead to their relegation from the Premier League, having only been promoted from the Championship last season.
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"The players put an effort in on the pitch, but still we need to improve if we want to get three points out of games".
The club is now in the process of a takeover, which could see Amanda Staveley's company PCP Capital Partners become the new owners.
The former Manchester United and Everton star made the comments following Newcastle's 3-2 defeat to Leicester City at St. James' Park in the Premier League on Saturday evening.