Ashley has confirmed he now wants to sell Newcastle, but for a fair price, and Whelan believes the Tottenham fan chose the wrong club when he bought Newcastle.
Whelan said: "The fans up there eat, breathe and live for one thing, and that is Newcastle United. Unless you put your whole heart into it, are a 100% Geordie and are backing them, they will give you some stick. He has got it, and he deserves it.
"I know Mike Ashley quite well as I was running JJB when he was with Sports Direct, and he is a bit unusual. He is a very good retailer, but at managing a football club, no. Especially with him being a Tottenham supporter and then going up to Newcastle, a club that is a different kettle of fish to most in the land."
Meanwhile, Whelan also spoke about the rumours linking Bruce with a move to Newcastle. Earlier this week, Birmingham chairman, and dildo lover, David Sullivan attempted to stir things ast the JJB Stadium when he spoke of Bruce's suitability to Newcastle.
Whelan said: "One day he will get a big-four job - I realise that, and I think the whole country realises he is one of the best four managers in the world.
"Sooner or later one of the big four clubs will come for Steve, and he knows I would never stand in his way, no matter where he wanted to go. I have such high respect for him, and hopefully he has that for me and the club, and I'm sure he has.
"But if Newcastle came, I think you would get Steve telling them what to do very quickly. I know Newcastle is where he comes from, and I know he did want to manage Newcastle at one time.
"But now, with what is going on up there, I think it would frighten a lot of people, and I'm sure it wouldn't excite him to go up there at present."
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