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Hughton's side stand at the top of the Championship table

Newcastle have named Chris Hughton as their permanent manager after he agreed a deal until the end of next season.

It brings to an end Hughton's third spell as caretaker boss since joining as a coach in 2008.

The 50-year-old has guided the Magpies to the top of Championship in the first season following their relegation from the Premier League in May.

"It's a very proud day for me to be named as the manager of this magnificent football club," he said.

"I will be doing everything in my power to get the club back into the Premier League at the first time of asking.

"Having the unequivocal backing of the players has helped me enormously and I would also like to thank Colin Calderwood, Paul Barron and the rest of the backroom staff who have been tremendously supportive to me this season."

The news came at the same time that Newcastle owner Mike Ashley withdrew the club from the market and promised to invest a further £20m this week.

On Hughton's appointment, club managing director Derek Llambias said: "We are delighted that Chris has accepted the post of full-time manager.

"He has done a terrific job this season and we wish him every success for the rest of this season and beyond.

"He will continue to receive our full backing and support."

Hughton's latest spell as caretaker boss began in the summer following the club's relegation from the Premier League.

The former Republic of Ireland defender and assistant coach had two spells in charge at St James' Park last season, as Newcastle used four managers and were put up for sale for a second time by owner Mike Ashley.

But a positive start to the new campaign saw Hughton win successive manager of the month awards as his side mounted a determined promotion push.

Newcastle 2-1 Doncaster