Newcastle United owner Mike Ashley has added £550M to his wealth over the last year, and he is now worth £2.3B, according to the annual Sunday Times Rich List, which will be published this Sunday.
Mike Ashley – now worth £2.3B
Mike continues to be the richest man in the North-East, and of course his company Sports Direct, has been returning record profits over the last year, and he has profited from the increase in the shares of the company.
Another north-east football man on the list in the north-east is Middlesbrough Chairman Steve Gibson, whose personal wealth has fallen £20M, and Steve is now worth (only) £145M. Steve owns his own transport business.
Mike Ashley did everything wrong at Newcastle in his first two years, after he took over in the summer of 2007, and Newcastle were relegated in May of 2009.
But since that time Newcastle have been put on an excellent financial footing, and we did very well last season to finish 5th in the Premier League, the highest position since the great Bobby Robson was manager back in 2004.
But this season, due in large part to not having a big enough or good enough squad, and playing 14 extra games in Europe, Newcastle have struggled in the Premier League, but reached the quarter finals of the Europa League for the first time since 2005.
Forbes magazine will report on 9th May that Newcastle United are now are the 20th most valuable club in the world, and are valued at £172M, which is up 9% year over year.
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