Supporters are urged to 'forgive and forget' NEWCASTLE UNITED - NO NEW OWNER.
Supporters were divided in their response to the news, but Beardsley urged them to unite behind Ashley as he attempts to get the club moving forward once again.
He said: "It's good news. I have never had a problem with Mike Ashley.
"He came here with the right intentions and now with the transfer window about to open, hopefully it is good news for us.
"He never wanted to leave this club. He always wanted to be here, he wants to be back among the fans and hopefully he will get the chance to do that now.
"I hope the fans react in the right way.
I think it is very positive, I think it's good news.
"We are a big club and we need a big owner, and he is certainly that.
"When you look at all the foreign owners - and there are some good ones, don't get me wrong - we have an English owner and that's a great thing.
"We can go forward now in a positive vein."
Ashley incurred the wrath of fans in the wake of Kevin Keegan's departure in September.
Keegan walked away from St James's Park in protest at the club's summer recruitment policy, and the role played in it by executive director of football Dennis Wise.
However, Beardsley pointed to the work being done with the club's academy as evidence that the future is in good hands.
He said: "They have brought some good youngsters in and long may that continue.
"But the most important thing is the first team at the moment.
"Manager Joe Kinnear is doing a brilliant job in that respect and we are moving up the league, which is a great thing.
"If we could get the academy on the back of that, that would be perfect."
RALLYING CALL Former United player Peter Beardsley.