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Sports Direct And Newcastle Both Having Poor Mondays


Bloomberg have a report about Sports Direct and some bad news for Mike Ashley and the company this morning.

The report states:

Sports Direct International Plc dropped the most in seven months after the U.K. sports-apparel retailer delayed publishing its results as auditors increase their scrutiny of its accounting.

Citing the complexity of integrating the House of Fraser department store chain, the U.K. retailer said Monday it needs more time to compile information as regulators review Grant Thornton’s audit of it’s fiscal 2018 results.

The shares fell as much as 6.1% in morning trading in London.

While the press has been very reticent in reporting the absolute disgrace of this summer at Newcastle, all the negativity surrounding the club could have an impact on Mike Ashley’s willingness to sell.

If Sports Direct’s name can get dragged into the chaos at Newcastle, Mike Ashley may feel it is in his best interest to get rid of the club to prevent further tarnishing his Sports Direct brand.

The results of the audit mentioned above are now scheduled to be released between July 26th and August 23rd. By this period of time, who knows the depths of which Newcastle will have further plunged.

What we do know is that Mike Ashley cannot fix what he has destroyed at Newcastle United. He must leave for the club to begin to heal.

Newcastle fans are reeling at the moment due to one man and one man only. That man is Mike Ashley who only purchased the club to plaster the Sports Direct brand all over Newcastle United.

He has linked the two together for the promotion of Sports Direct at the detriment of Newcastle United. It would certainly be a shame if this backfired on him at such a vulnerable time for Sports Direct.


19 comments so far

  • IrishRob

    Jul 15, 2019 at 9:42 AM

    Comment #1

    First!!

    0
  • one fine day

    Jul 15, 2019 at 9:48 AM

    Comment #2

    Glass half full but could a bad hit in the little empire make him more likely to seriously reconsider blinking first in the alleged stand off with BZG. .?
    As it’s seriously an offer that will only now diminish as the club stumble along completely UN United once again.

    0
  • nut meg

    Jul 15, 2019 at 9:50 AM

    Comment #3

    Shit Deposits going down the pan?

    3
  • DubaiMicky

    Jul 15, 2019 at 9:54 AM

    Comment #4

    Interesting take on things here https://twitter.com/IllustriousMuz/status/1150513986456248321

    What do we think? It all seems weird that nothing is forthcoming from anyone.

    5
  • c-dog

    Jul 15, 2019 at 9:54 AM

    Comment #5

    We’re going down

    2
  • nufcalex

    Jul 15, 2019 at 9:59 AM

    Comment #6

    No strikers, no manager, the most competitive season in the premier League season with clubs around us splashing the cash, who out of the current squad would stay in the championship, they’re all going to want out. We won’t come straight back up next time.

    2
  • Jib

    Jul 15, 2019 at 9:59 AM

    Comment #7

    BlacknWhiteBarmy
    hit the nail on the head on previous
    Ashley is deliberately forcing the share price down
    Ties in nicely with the sale of NUFC and his regaining full control of
    SD

    0
  • RobLeenio

    Jul 15, 2019 at 10:00 AM

    Comment #8

    Sports Direct being hit by the stock market? The auditors being scrutinised for their work? Mike Ashley maybe under pressure to boost his cashflow and liquidate some assets?

    All a terrible shame, I’m sure.

    He has to get to a point where he just thinks NUFC is worth way more to him in cash than it is as a business, surely. If he does have any long-held desires to de-list Sports Direct and bring it back under his own control, now could be the time to do it when the share price is low.

    I wonder if he has any quick and easily disposable assets worth a few hundred Million Pounds and a ready and willing buyer to take it off his hands? I bet he’ll be kicking himself that he’s let this opportunity pass him by.

    1
  • one fine day

    Jul 15, 2019 at 10:01 AM

    Comment #9

    Mickey ,
    Was actualy thinking today why had nothing else come from BZG
    Surely they would not just walk away quietly allowing everyone to make up their story and destroy their reputation .
    I do agree that there way to many journos clearly on the pro Ashley agenda or are pissed off they are being left out of any exclusives
    Have you heard anything more localy or is it all eerily quiet your side?

    0
  • Scholesy

    Jul 15, 2019 at 10:03 AM

    Comment #10

    I’m still glass half full, although my resolve is being tested. If Mike thinks BZG will pay his price if he leaves it much longer he’s in for a welcome shock. If he doesn’t blink first he’s gonna be saddled with something he can’t sell…reap what you sow you fat fcuk!!

    8
  • one fine day

    Jul 15, 2019 at 10:04 AM

    Comment #11

    Funny how half a dozen lads on here can come up with more plausible scenarios and investigation on nufc/ sports direct BZG that those paid to do so in the local media .
    Five things we learned ….ffs

    6
  • DubaiMicky

    Jul 15, 2019 at 10:08 AM

    Comment #12

    one fine day – eerily quiet I’m afraid, it’s holiday time, schools have broken up and a lot of people have gone to cooler pastures for a break too. That’s not an excuse – just not as many people on the ground here to talk with.

    0
  • toon22

    Jul 15, 2019 at 10:16 AM

    Comment #13

    JIB

    Can I borrow your crystal ball
    I’m after some lotto numbers

    3
  • IrishRob

    Jul 15, 2019 at 10:27 AM

    Comment #14

    Mickey #4…. posted in wrong story earlier

    BZG are liars!!! The club didn’t refute it because they were using the situation to run down the clock. If Newcastle came out 2 monts ago and refuted it then obviously they would have to publicly focus on getting a manager and spending money on new players.

    If they kept their mouth shut however then they dont have to spend money and can blame a takeover as the reason why they didn’t have time to buy anyone.

    I can’t understand how some people dont see how obvious this is.

    4
  • geordiemark

    Jul 15, 2019 at 10:28 AM

    Comment #15

    i hope shite direct shares are hammered to hell and back even though he only owns 61% of it must be really hard for ashley looking at his baby and seeing other shareholders looking down at him because the shares are down and he looses 491 million, 150 million of that lost because of a gamble now we are paying for that

    1
  • Cajones

    Jul 15, 2019 at 10:49 AM

    Comment #16

    IrishRob BZG aren’t liars. They wouldn’t know the extent of the Commercial Deals that Ashley has tied any future NUFC owner until after they have made a bid. Once they see Ashley owns the merchandising for seven years (as at Rangers) and has to be offered the same financial terms as anyone else where do new owners make money. Rangers were left with 7p for every pound spent by supporters and SD making 93p. But BZG wouldn’t know until they had made a bid but you keep running down BZG if it makes you happy. 🙂

    6
  • nufc 11

    Jul 15, 2019 at 11:07 AM

    Comment #17

    Guess its fair to say Mike Ashley will be taking multi millions( in supposed loans owed to him) out of the club by the end of the week then to cover the SD share price fall? I mean who would have thought that a PL owner would do such a thing?You can already see its happening the cost cutting or asset stripping that is taking place.

    Rafa gone and replaced with a fruit stall owner Steve Bruce, 6 million annually for Rafa down to 500k-1million for Bruce, 30million for perez, 120million banked from PL TV money last season, and this season’s first payment due any day now. Schar and Longstaff are next out the door followed by Dubravka and Almiron all replaced with free transfers and loan deals. Hurry up Lads, better renew those season tickets before they are all gone.

    2
  • onmeedsun

    Jul 15, 2019 at 11:10 AM

    Comment #18

    No benefit to Ashley in getting relegated as no one would give him his £350m in the Championship. The Stars could be aligning for a sale but the cutoff point is fast approaching as time is running out for new owners to appoint a manager and buy players. If no sale Ashley will throw some money at the club in the final week of the window just to protect his investment. He’s behaving like he’s at the casino playing poker. We are just caught in the crossfire and count for nothing. We could have this scenario every year as long as he lives. He needs to need the cash out!

    3
  • The Sheik of Araby

    Jul 17, 2019 at 9:43 AM

    Comment #19

    Bruce named head coach 🙁

    0


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