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News and Commentary On Newcastle United By Ed Harrison, A Proud Exiled Geordie And Lifelong Fan

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Sports Direct Continues Its Success – Can Newcastle Follow?

9:59 pm, Thursday, July 16th, 2015 by Dr. Ed Harrison · 12 Comments

Sports Direct announced today that profits rose by just under 21% in the financial year to April 26th of this year.

The group, founded and majority controlled by Newcastle owner Mike Ashley, announced pre-tax pretax profits for the year of £300M, which beat forecasts of £293M, and was up from £249M a year ago.

A 5.5% rise in sport retail revenues helped push total revenues up by 4.7%.

Mike Ashley Sky Sports West Ham Match May 2015

Mike Ashley – during his Sky Sports interview on May 24th

However, Sports Direct announced today it would lower its 2015/2016 adjusted core earnings target of £480M down to £420M.

The reason for the lowering of earnings was down to not expanding revenues via acquisitions over the previous year – but all other targets for the next three years to 2019 remained unchanged.

Mike Ashley owns something above 60%, and he seems to have been successful in almost everything he has done in the business world, although he’s had his ups and downs.

A down is Newcastle United, and we’ve finished only one in the top eight in the Premier League since he became owner eight years ago .

But with the pledge he made in May that he wants Newcastle to now win something, and with big money being made available to buy new players this summer, maybe Newcastle can become successful again?

The acquisition of Georginio Wijnaldum for £14.5M from PSV was a very good start, and it seems we are close to buying Charlie Austin of QPR (probably for the full £15M).

Bookies suspended the betting on him moving to Newcastle today as his odds fell dramatically to 1/10 odds on.

If that’s true we are close to doing a deal for him then let’s hope he passes his medical at Newcastle,  which he failed at Hull two years ago.

Newcastle are also reported to be close to signing another striker – Aleksandar Mitrovic of Anderlecht – and the two of them appear to be Newcastle’s top two striker targets.

If we can get these two through the door in the next week, Newcastle will be buzzing again.

And who knows we may even have a successful team again.

It’s possible.

As a refresher, here’s what Mike Ashley said in his Sky Sports interview,  just one hour before our final game kicked off against West Ham, when we were in danger of being relegated to the Championship.

Comments welcome.

Note – thanks to reader Lewis Spiers, who has kindly set up the Fantasy League for our readers.

The code is 157085-73868 and readers can set up the league here. 

Tags: Financial Fair Play · Financials · Newcastle News · Premier League · Transfer News and Rumours

12 responses so far ↓

  • 1 toon22 // Jul 16, 2015 at 10:03 PM

    Imho they will keep Taylor as he is decent while fit,making him home grown and good from the bench.
    Willow should be sold simple as.
    We have the Derby kid coming in with the keeper so at best there will be one CB added,most likley it will be that guy the old srunkard said wasnt good enough.

  • 2 croftus5678 // Jul 16, 2015 at 10:04 PM

    no offence but does anyone care how sports direct are doing ?

  • 3 Sazzer // Jul 16, 2015 at 10:07 PM

    Balotelli have 67 goals in 173 games at wiki.

  • 4 Sazzer // Jul 16, 2015 at 10:08 PM

    also 13 in 33 for Italy.

  • 5 Liverpool Mag // Jul 16, 2015 at 10:09 PM

    Baoltelli is vastly overrated, he blows hot and cold, When he’s on form he’s great but he’s very rarely on form and mostly just acts as a giant manbaby that wastes space.

  • 6 Jib // Jul 16, 2015 at 10:11 PM

    Lee Charnley Bunga Party

    Ideally ?

  • 7 Belfast // Jul 16, 2015 at 10:11 PM

    Think I’ll give the fantasy league a miss this year.

    I’m retiring.

  • 8 Jail for Ashley // Jul 16, 2015 at 10:12 PM

    Bit late but
    Ashley Out!

  • 9 Online Guy // Jul 16, 2015 at 10:15 PM


    Are you around ?

  • 10 Liverpool Mag // Jul 16, 2015 at 10:15 PM

    @Jib I don’t think Berahino would work as well in McClaren’s system; I think he’s a better player than Austin, or will be, with good potential but don’t think he’d work out as well.

  • 11 croftus5678 // Jul 16, 2015 at 10:18 PM

    @7 belfast

    i heard the sun was valuing our defence in the negative for the fantasy league this time round 😉

  • 12 Sav // Jul 17, 2015 at 1:05 AM

    Building from the back is the end for Williamson but he’s a good lad, player of the season two years ago and if and when he leaves, fans should wish him well.

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