When he was given the contract we were still basking in the fact we'd gone into a season being tipped for relegation and stunned everyone by challenging for champions league places while doing stuff like beating Man U 3-0 in the process (fucking hell, remember that entire other lifetime? )
Some pundits were, with a straight face, talking about Pardew going to Liverpool or one day being England manager. At the very least there was an impression that the teams around us were coverting him.
I don't think Ashley gave him an 8 year contract because he wanted him here until 2020. I think he was hoping for a big compensation package if another team wanted him. Just treating him like a player basically - find someone cheap, take a punt, increase their value and cash in if they move on. If he could con a desperate Liverpool out of £35m for a player, surely he could make a fair wedge from a manager?
Of course the problem is that the wheels have fallen off. We just have to hope Ashley wasn't made over confident by the buzz around Pardew last season and took this possibility into account enough when drawing up the contract.