When the sale was done, Derek Llambias (talking on behalf of the Toon owner) said: "All the money will go into team rebuilding in the summer".
As it happens (give or take a few thousand) the money received for the players sold - paid for the players coming in - so that £35m should still be there to spend.
But that matter seems to have been pushed under the carpet today, as Llambias said on Radio Newcastle: "We need a striker, and renaming St James' Park could bring in the £8m or £10m we need.
"The supporters are shouting for new players, selling the name could finance it."
So has the £35m suddenly disappeared? Or perhaps it's gone were we all expected it to go ... in Ashley's wallet.
Didn't Kevin Keegan laugh when Carroll was sold, saying: "And so the money will all go on new players, will it? Don't hold your breath!"