Mike Ashley has admitted he may be forced to keep Newcastle United beyond the end of the season – and may even stay on permanently.
Mike Ashley – may keep Newcastle United Football Club
Mike has made a genuine attempt to sell the club, during probably the very worst time he could have chosen, with the worldwide credit crunch in full swing.
But it seems that Mike may have had a change of heart and only recently said he had one fantastic year at a fantastic club.
It now appears with Joe Kinnear in place and managing Newcastle very well indeed, both on and off the field, things are looking up just a little for the club and the fans.
Ashley bought the club for £134M last year, and has since said he has invested a further £110M into the club to reduce the debt load, which was far too large.
Mike has been talking to lots of newspapers recently, and he was interviewed by the Financial Times yesterday, following the surprisingly good semi-annual results of his company, Sports Direct International.
Mike Ashley expects to maintain his ownership of Newcastle United beyond the end of the football season, because he just cannot find a buyer willing to pay his £250m asking price. That price will cover his investment in the club.
Mike was asked further about Newcastle United and he revealed he sometimes goes a little crazy when watching Newcastle games:
“I love Joe Kinnear, the current manager.”
“You know, even if I have to watch it on Sky Sports at home and send the kids out.”
“I have the doors locked and have the telly on full blast – I still love it jumping up and down at the telly screaming.”
Sounds like Mike is a daft Newcastle United fan, like the rest of us. 😀
Mike Ashley’s bankers, Seymour Pierce, had been aiming to complete the Newcastle United sale by the end of this year, but they were not able to get one viable bid – but Mike still has the famous North-East club up for sale.
The founder and owner of Sports Direct also said yesterday that he expected his company to prosper from the recent travails of JJB Sports, their main sports retail chain competitor.
Mike told the Financial Times about Sports Direct International:
“We will take market share – this is our time,”
Mike’s comments were delivered after Sports Direct reported a 3% rise in profits for the 26 weeks ended October 26th, and the results lifted the shares 8 per cent.
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