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Sports Direct Issues Annual Results – They Do Pay For Newcastle Advertising


Sports Direct have issued their annual results just in the nick of time. It appears as though they do pay Newcastle United £2m a year in advertising rights.

Mark Douglas of the Chronicle has just sent out the following tweet.

They also are due to pay an enormous amount in taxes according to the tweet below.

It’s been a bad day all around for Mike Ashley and Sports Direct as the delay in issuing the results has led to a lot of consternation in financial circles.

Some top financial and news outlets have published articles announcing their astonishment at the actions taken by Sports Direct.

Here are links to a few of the articles about what has transpired today with Sports Direct and the possible implications for the company.


81 comments so far

  • Sports Direct FC

    Jul 26, 2019 at 5:39 PM

    Comment #1

    How are all my fellow SD FC fans today?

    2
  • jon

    Jul 26, 2019 at 5:41 PM

    Comment #2

    Oh, I’m gutted.

    1
  • jon

    Jul 26, 2019 at 5:42 PM

    Comment #3

    NOT.

    1
  • jon

    Jul 26, 2019 at 5:45 PM

    Comment #4

    I can’t see that they’re doing it on purpose, to buy shares on the cheap, as that is market manipulation, can’t do that, without serious consequences.

    2
  • Neil Harrison

    Jul 26, 2019 at 5:45 PM

    Comment #5

    Added a tweet about enormous tax burden from the annual report. Not a good day for Ashley

    12
  • Sports Direct FC

    Jul 26, 2019 at 5:45 PM

    Comment #6

    2 million for this upcoming year….how does poor Mikey afford it?

    2
  • geordietom

    Jul 26, 2019 at 5:45 PM

    Comment #7

    i hope to f..k his empire falls…

    6
  • lochinvar

    Jul 26, 2019 at 5:46 PM

    Comment #8

    Take out £100million, deduct £2m advertising budget, net gain £98m or whatever the exact figures are.

    Don’t suppose NUFC results show that , do they ?

    3
  • geordietom

    Jul 26, 2019 at 5:46 PM

    Comment #9

    or fails …

    0
  • Slatymag

    Jul 26, 2019 at 5:47 PM

    Comment #11

    Can someone put in a nutshell if this SD fiasco will have any immediate effect on NUFC, please?

    Scrutinising financial results is it my forte.

    2
  • Diddly

    Jul 26, 2019 at 5:48 PM

    Comment #12

    Any business types out there re last post

    0
  • giimps

    Jul 26, 2019 at 5:48 PM

    Comment #13

    2m a season for 3 million sh!te direct adverts a season……good deal for him, not so good for us

    3
  • geordietom

    Jul 26, 2019 at 5:48 PM

    Comment #14

    sell wor club .put the money into your cheap tat shops …

    greedy fat barsteward …

    1
  • Slatymag

    Jul 26, 2019 at 5:48 PM

    Comment #15

    And when are we signing Andre 3000??

    0
  • Sports Direct FC

    Jul 26, 2019 at 5:49 PM

    Comment #16

    Having to pay 2 million means someone has to be sold to cover it….Longstaff for 50 million will break even.

    0
  • geordietom

    Jul 26, 2019 at 5:50 PM

    Comment #17

    Sports Direct statement: “The Group has been the subject of a tax audit in Belgium and, on 25 July 2019, received a payment notice from the Belgian tax authorities in the amount of €674 million (including 200% penalties and interest)”…

    could’nt happen to a nicer person …

    18
  • Neil Harrison

    Jul 26, 2019 at 5:51 PM

    Comment #18

    It’s going to take the financial gurus a good day to go through all of the report. Should be some good details released tomorrow on how bad of a shape Sports Direct is in.

    13
  • jon

    Jul 26, 2019 at 5:52 PM

    Comment #19

    Two separate things slaty, nufc is owned by mike twatshly, SD is a public limited company, owned by shareholders.

    4
  • geordietom

    Jul 26, 2019 at 5:52 PM

    Comment #20

    Neil is your dad ok …

    6
  • Slatymag

    Jul 26, 2019 at 5:52 PM

    Comment #21

    @comment 10

    Ooof, it doesn’t matter how rich you are, you are gonna feel that.

    Maybe the wider press might turn against him now that he is seemingly treating them with the same disdain he does us.

    5
  • giimps

    Jul 26, 2019 at 5:52 PM

    Comment #22

    Hahahahahahahahahahahahahahahahahahahahahahahahaha…………no wonder they delayed the announcement, obviously wanted the stock exchange closed before they announced it so they can plan their exit strategy or appeal the fine etc

    7
  • toon22

    Jul 26, 2019 at 5:54 PM

    Comment #23

    It’s an excellent time to protest

    10
  • Neil Harrison

    Jul 26, 2019 at 5:54 PM

    Comment #24

    Geordie Tom,

    Yes, just got back from seeing him a few hours ago. He is so upset about Rafa leaving that he is taking a break for the moment. He will be back soon.

    33
  • Jib

    Jul 26, 2019 at 5:54 PM

    Comment #25

    Tom is wrong to wish doom on Ashley
    If that happened NUFC would be his only
    working venture and we’d be stuck with him.

    Since the shareholder’s of SD forced the resignation of
    SD chairman Keith Hellawell , Ashley has been seething.
    Everybody knows what a vindictive SoaB he can be..
    It looks like NY and my hypothesis about him blowing off
    SD’s shareholders and de-listing from the LSE could be
    correct – even the financial journos are talking about it now.

    Nice to see the range of folk who read Ed and Neil’s fine
    blog

    13
  • lochinvar

    Jul 26, 2019 at 5:55 PM

    Comment #26

    Imagine that Ashley is extradited to Belgium rather than Dubai.
    He might prefer that.

    2
  • giimps

    Jul 26, 2019 at 5:55 PM

    Comment #27

    Afternoon toon22

    1
  • toon22

    Jul 26, 2019 at 5:57 PM

    Comment #28

    Buying back shares might be chucking good money after bad

    Hahahahaha hahahahaha

    What a proper shame

    If he goes bankrupt won’t our club become a saleable ssset ?

    4
  • Slatymag

    Jul 26, 2019 at 5:57 PM

    Comment #29

    @ jon

    I just thought (hoped) it might be so bad for him that he would crawl back to any interested parties and try to flog the club sharpish.

    Suppose the full ramifications will come to light soon enough.

    1
  • toon22

    Jul 26, 2019 at 5:57 PM

    Comment #30

    Afternoon giimps

    3
  • giimps

    Jul 26, 2019 at 5:58 PM

    Comment #31

    Come Monday, I think there will be some bad heads in the stock exchange

    1
  • TomaKaThor

    Jul 26, 2019 at 5:59 PM

    Comment #32

    Release the transfer funds is all i care about, then sell up Mike in time for Jan

    5
  • toon22

    Jul 26, 2019 at 5:59 PM

    Comment #33

    He owns SD and us

    Could SD bankrupt Jabba ?
    And not just go bust without touching him personally?

    0
  • clinath@ed

    Jul 26, 2019 at 5:59 PM

    Comment #34

    If only he had an asset he could offload for £350M+…….

    2
  • giimps

    Jul 26, 2019 at 5:59 PM

    Comment #35

    I reckon about 50% off the share price of sd and a very happy slug, the shareholders will be crawling over each other to sell their shares to him

    4
  • toon22

    Jul 26, 2019 at 5:59 PM

    Comment #36

    If he is ever going to sell us it’s this weekend or never

    1
  • toon22

    Jul 26, 2019 at 6:01 PM

    Comment #37

    700 million reasons to smile

    Hahahahaha hahahahaha hahahahaha hahahahaha hahahahaha hahahahaha

    6
  • toon22

    Jul 26, 2019 at 6:02 PM

    Comment #38

    Ok so he buys it all back

    What about the 700 million tax bill ?

    Hahahahaha

    6
  • jon

    Jul 26, 2019 at 6:02 PM

    Comment #39

    Slaty, no harm in hoping for that, hopefully he needs immediate cash, one way to get it, umm, sell nufc.

    1
  • Jib

    Jul 26, 2019 at 6:02 PM

    Comment #40

    Wow – a new company sec and furiously buying
    his own shares

    0

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