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Mike Ashley Is In Serious Trouble – Unfit To Own A Football Club


There has been some awful publicity over the last several weeks for Sports Direct and specifically for its owner Mike Ashley.

At their Annual Meeting last week, 31% of shareholders voted to remove Ashley from his position as Chief Executive of the company.

That is the level of dissatisfaction with his management of the company.

But of course, since Ashley owns 62% of the company, he voted his shares to stay in control – and will do so.

The announcement of the Sports Direct results in July was a complete and utter farce.

After over ten hours of delay, the company was still unable to issue any profit guidance for the coming year.

The company had apparently just received an unexpected €674m (£605M) tax bill from Belgium, and that forced the Finance Director of the company to resign his position.

It was complete and utter chaos at Sports Direct – but it’s the likes of that which we have seen at Newcastle over the last 12 painful years.

Mike Ashley – incompetent, risky management on show at Sports Direct as the stock price has plunged

Here is the performance of Sports Direct stock over the last four years or so.

The price of their shares was £805.5 on August 7, 2015, but it had now dropped to £270.80 on September 12, 2019 – two days ago

That’s only 33.5% of the August 2015 figure and represents a 66.5% drop – a 2/3 reduction in price over about four years.

So it’s clear that Mike Ashley has not only lost 2/3 of his fortune since August of 2015, but that’s also how much shareholders have lost of their investment.

And it seems to be due to incompetent and chaotic management coming from the top of the business – from Mike Ashley – the Chief Executive.

The Sports Direct auditors Grant Thornton, after more than ten years as the company’s auditors, have also resigned with no company apparently wanting the job.

We have to wonder what state of the books of Sports Direct are like.

We have seen at Newcastle United a lot of Ashley’s chaotic, risky and incompetent management.

That seems to be the way he manages his other company, Sports Direct.

Maybe the powers that be at the Premier League should take another look at whether he is fit to own a football club and whether he passes the Owners’ and Directors’ test.

That’s if they take into account how he has shattered Newcastle fans’ dreams over the last 12 years; maybe they will find he is unfit to own a football club.

And have him sell the club and bring the fans’ misery and discontent to a merciful end.

We have to hope there is no more news of a takeover but that it happens quickly and silently.

But the word is now out there how that Ashley seems an incompetent executive and that Newcastle fans are desperate for somebody to come in and buy the club.

We just have to get lucky and hope that someone will do that – maybe even before the end of this year.

That would be precisely what we need.

Newcastle will not be able to regenerate itself until a new owner comes in – that’s the truth.

Comments welcome.


228 comments so far

  • Genjikai

    Sep 14, 2019 at 6:40 PM

    Comment #1

    3-1 now.
    If norwich beat mancity by 4-1 does it mean bruce is better than pep?

    6
  • Genjikai

    Sep 14, 2019 at 6:40 PM

    Comment #2

    ASHLEYOUT!

    6
  • Genjikai

    Sep 14, 2019 at 6:41 PM

    Comment #3

    Ashley is a shambles of a man.
    Enough is Enough Ashley youve got enough money to last 10000 lifetimes, just sell up all and enjoy life.

    31
  • ilovetoon8788

    Sep 14, 2019 at 6:43 PM

    Comment #4

    Look at how daring Norwich plays against city. While we go backs against the wall for 90mins.

    We can’t even compete with Norwich. This team will get relegated.

    2
  • Jib

    Sep 14, 2019 at 6:59 PM

    Comment #5

    ilovetoon8788
    Sep 14, 2019 at 6:43 PM
    Comment #4
    Look at how daring Norwich plays against city

    It’s probably because they are owned by Delia

    1
  • Jail for Ashley

    Sep 14, 2019 at 7:00 PM

    Comment #6

    Ha ha, Jiblet’s been on the naughty step.

    9
  • bettyswallocks

    Sep 14, 2019 at 7:04 PM

    Comment #7

    There are no chickens amongst these canaries, headless or otherwise.
    Those continually labelling Almiron a headless chicken need to get their heads out of their arses shut their beaks and quit with the fowl comments.

    19
  • Jib

    Sep 14, 2019 at 7:10 PM

    Comment #8

    Jail
    Self imposed exile
    Very entertaining
    Probably the funniest was a discussion on the anniversary of 9/11
    when Ron said he was old enough to remember JFK and you
    thought he was referring to Kinnear
    The embarrassment at your slow-witted doltishness was palpable

    13
  • MagpieRanger

    Sep 14, 2019 at 7:11 PM

    Comment #9

    Ashley could lose everything if he isn’t careful

    7
  • Genjikai

    Sep 14, 2019 at 7:15 PM

    Comment #10

    Norwich have been class here.
    No individual glory all for the team.
    Interesting last 5 mins city made it 3 2.

    0
  • Genjikai

    Sep 14, 2019 at 7:17 PM

    Comment #11

    Magpie ranger
    I think ashley is buying up high street chains as he knows hes going broke, so he going to use the stores as leverage.
    Against what i dont know but thats how conspiracy theories start.

    7
  • toon22

    Sep 14, 2019 at 7:17 PM

    Comment #12

    Dr. Ed Harrison

    Agree 200%

    The guy is a disaster, he broken league rules pertaining the fans forums, and has systematically asset stripped the club to benefit SD.
    Hopefully next Wednesday the government gets involved

    17
  • Munster Mag

    Sep 14, 2019 at 7:17 PM

    Comment #13

    Welcome back Jib. Sadly the dimwits havent changed in your absence.

    7
  • toon22

    Sep 14, 2019 at 7:19 PM

    Comment #14

    Genjikai

    Exactly

    He wants to be too big to fail
    Its obvious

    Lets hope Andrea Leadsom disagrees, i would guess the HMRC are iching to help him out in his hour of need

    LOL

    8
  • toon22

    Sep 14, 2019 at 7:20 PM

    Comment #15

    Are we pretending JIB didnt just post on his alts ?

    Such as JAF ?

    Hiya JIB

    Whats ya doing next Wednesday ?

    10
  • Jib

    Sep 14, 2019 at 7:22 PM

    Comment #16

    toon22
    Are you Royalty ?
    You use “we” a lot

    2
  • Jib

    Sep 14, 2019 at 7:23 PM

    Comment #17

    toon22
    Is the Duke of Edinburgh !!!!!!!!!

    2
  • Sports Direct FC

    Sep 14, 2019 at 7:24 PM

    Comment #18

    Mag P
    Last thread

    I agree, with our squad we have to set up and play the way we have been. Though I don’t think Bruce is a good manager I understand why he is doing what he is doing, just like Rafa had to. But some on here whined and complained last season but think its just fine this year, that’s what I was pointing out. And yes, some were telling us how SB will play much better football that our last manager.

    4
  • Nufc-83

    Sep 14, 2019 at 7:25 PM

    Comment #19

    Andrea Ledsom for next owner – where going places!

    4
  • Jail for Ashley

    Sep 14, 2019 at 7:25 PM

    Comment #20

    Come on now Jibbers old bean we all know how the blog works, your comments on previous have just appeared in the middle of nowhere, you’ve been on the naughty step ha ha.

    13
  • Scythe For Bruce

    Sep 14, 2019 at 7:25 PM

    Comment #21

    My my, that was a game of football at Carrow Road, wasn’t it? Great match. Really pleased for big Tim in goal. He was magnificent, along with the rest of his teammates.

    Sort of makes me feel a little better about losing to the Canaries a few weeks ago now. But not much 😀

    2
  • Jib

    Sep 14, 2019 at 7:26 PM

    Comment #22

    Teemu Pukki is getting quite a reputation

    2
  • Sports Direct FC

    Sep 14, 2019 at 7:26 PM

    Comment #23

    Ed,

    Have been on much in last week, keep up the fight. We all appreciate everything you do.

    8
  • geordietom

    Sep 14, 2019 at 7:27 PM

    Comment #24

    Jib …

    nice to see you back mate how was your sabbatical…

    0
  • Sports Direct FC

    Sep 14, 2019 at 7:28 PM

    Comment #25

    Wonder if Man. City will be looking for a new manager soon? Already 5 pts. behind.

    1
  • MagpieRanger

    Sep 14, 2019 at 7:28 PM

    Comment #26

    Genjikai, maybe Ashley has bitten off more than he can chew…
    I worry what could happen to us if we’re relegated this season under Ashley. Just look at Stoke right now.

    2
  • Jail for Ashley

    Sep 14, 2019 at 7:29 PM

    Comment #27

    Sports Direct FC,
    It’s incredible, nothing was good enough for them when we had a world class coach. Now we have this chump the backs against the wall underdog is just fine, I also seen that the defensively solid option of Krafth is now the latest scapegoat, the same blokes saying get to the stadium to support the players sat at their keyboards slaughtering the lad.

    18
  • Sports Direct FC

    Sep 14, 2019 at 7:32 PM

    Comment #28

    Jail

    In addition SB will have no say on player transfers. Its quit disturbing at the moment. At least Rafa had a plan was slowly building a squad to play how he wanted. Sadly MA ego wouldn’t allow it and we are back to square one.

    15
  • Rotonda heights

    Sep 14, 2019 at 7:34 PM

    Comment #29

    Munster you still here

    4
  • bettyswallocks

    Sep 14, 2019 at 7:38 PM

    Comment #30

    Munster calling his fellow bloggers dimwits again smacks of sheer hypocrisy.
    The man obviously has a massive inferiority complex thinking that everyone’s getting as good as he is.

    17
  • Jib

    Sep 14, 2019 at 7:41 PM

    Comment #31

    Betty
    Why shouldn’t he call South Shields answer to Red Adair
    a dimwit when he childishly slags off the fine city of
    Limerick just to score a point.
    He’s an idiot

    7
  • Rotonda heights

    Sep 14, 2019 at 7:42 PM

    Comment #32

    Its a shame people were so disparaging about Abraham, labelling him ”tap in tammy” I think we can all see what rafa saw in him now.

    7
  • Jail for Ashley

    Sep 14, 2019 at 7:46 PM

    Comment #33

    Rotonda heights,
    For the same price as Joelinton we could have had Rondon and Abraham in the same team, albeit with a lot more wages, however I’ve got a sneaking suspicion that Abraham is going to be worth just a tad more than Joelinton in two years time. Before anyone accuses me of using hindsight, that’s what you pay top managers for.

    11
  • Jib

    Sep 14, 2019 at 7:47 PM

    Comment #34

    Tom
    It was very educational
    I’m currently looking to find another blog
    This one is going down the pan very quickly
    Neil is making a good fist of it but the inmates
    are starting to control the asylum.

    11
  • Jail for Ashley

    Sep 14, 2019 at 7:49 PM

    Comment #35

    And Jibberish me auld mouldy cheesy grate, if you honestly thought that I was comparing Newcastle hiring Joe Kinnear to historical events such as the shooting of JFK and the 9/11 attacks then you are really clutching at straws.

    9
  • Jail for Ashley

    Sep 14, 2019 at 7:50 PM

    Comment #37

    Jib,
    Why did you leave .org as Mallorca mag, we’re you kicked off there as well?

    13
  • gonufc (Newcastle United Sports Direct Advertising Club)

    Sep 14, 2019 at 7:52 PM

    Comment #38

    I really hope Zinchenko’s cheating gets highlighted in the press- he should be ashamed of himself.

    0
  • Jib

    Sep 14, 2019 at 7:59 PM

    Comment #39

    Jail
    My memory is clearly better than yours
    Jeff from Benwell first started as MallorcaMag (spelling)
    when he changed to JfB – mallorcamag (spelling) asked if
    anyone objected to his taking of the name.
    I think he was a bar owner.
    nowt to do with me

    2
  • Jail for Ashley

    Sep 14, 2019 at 7:59 PM

    Comment #40

    Sports Direct FC,
    I never seen the game today as I am at work, however I did read the blog comments and see Krafth take a bit of a slating and someone, funnily enough Munster finally acknowledge that he has come from down the pecking order on Nickson’s list. Unfortunately this is what a manager is up against, Nsoki was the number one target but unfortunately his wages were too high and we went down the list, our former manager who had final say on transfers would have had a choice to make, either accept him or go without, given that we already have Manquillo and Yedlin I assume he would have passed on him and it would have been a third season without upgrading our RB position, however, in the case of Manquillo he would have had to accept him as we had no cover for Yedlin, the same with Joselu. Now we have Bruce in charge who has agreed lock, stock and barrel to work under these conditions so we’ll come to accept a lot of Nickson’s second and third choices.

    4
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