Newcastle United Limited is the company which owns Newcastle United Football Club, and its parent company is MASH Holdings Limited, which is owned completely by Billionaire owner Mike Ashley.
Mike Ashley – owns MASH Holdings outright
And MASH Holdings latest financial results show it made a profit of £256.4M (before taxes) in the financial year to the end of April 2013 last year.
MASH Holdings is essentially made up of the part of Sport Direct International owned by Mike Ashley, which is currently at 62%, and also 100% of Newcastle United Limited.
Sports Direct International includes various brands such as SportsDirect.com, CyclesDirect.com, Field &Trek, Lillywhites, SheRunsHeRuns and internet and high street retail company USC.
MASH Holdings contains the 62% in Sports Direct International that Mike Ashley owns and is worth over £3B at the current stock price, which has been rising steadily over the last few years.
Accounts for MASH Holdings show that group profit before tax for the last financial year was £256.4M, and that’s up from £130.6M in the previous, on revenue which grew 18%.
That’s an increase of around 96% and was due almost entirely top the business growth of Sports Direct International, as Newcastle United Limited continues to be a liability on the books of MASH Holdings.
The accounts have been filed at Companies House, and the net assets rose 68%c to £581.5M, and that was due to the strength of Ashley’s holdings in Sports Direct International, including a number of key brands that are part of the global company.
Newcastle United’s value was still a net liability, despite the club’s revenues and profits increasing in the period.
Ashley has Newcastle United on a path towards continued and increased profitability, and the financial books are in very good shape, and in their last financial year thorough the end of June last year, made a healthy profit of £9.9M, and that’s after taxes.
But that somehow needs to be turned into having a great team on the pitch – which unfortunately hasn’t happened during Ashley’s almost seven year ownership of the famous Tyneside club.
Mile Ashley was recently placed at number 256 in Forbes latest list of the world’s richest Billionaires, with a net worth of around £3.3B, due entirely to the shares he owns in Sport Direct International.
We estimate Mike owns about 36000 Sports Direct International shares.