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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

  • Munster Mag

    Sep 14, 2019 at 8:42 PM

    Comment #81

    Said the frog who cant finish a song and doesnt know the city? Ho ho. Shall I set u some questions Frog?? You didnt answer last time. Wonder why? 🙂

    0
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 8:42 PM

    Comment #82

    Munster..

    Arrogance lol, what do you call telling fans of Nufc how to support their club when you’re to ignorant and lazy to read their comments and the BZG statements?

    I’m glad your son is smart enough to ignore you.

    8
  • The Wife

    Sep 14, 2019 at 8:42 PM

    Comment #83

    Jail

    I don’t get involved in fantasy leagues anymore. I get too obsessed! I learned my lesson one year on a hockey fantasy league. It completely consumed my life. Good thing I won. 🙂

    9
  • toon22

    Sep 14, 2019 at 8:43 PM

    Comment #84

    Munster Mag

    As i have at length shown i dont need to do that, its obviously so but in this case its irrelevant
    Again as a toon fan you seem to be defending a guy who has obviously asset stripped us

    JIB

    “Some examples of bile would be appreciated”

    Too many to list tbh

    8
  • toon22

    Sep 14, 2019 at 8:45 PM

    Comment #85

    Munster Mag

    Ive posted links and text showing that Jabba might be in real trouble next Wednesday

    You seem upset at the distant possibility of it

    I doubt ant fan of any club would have anything like that opinion
    The guy is hated

    8
  • Munster Mag

    Sep 14, 2019 at 8:45 PM

    Comment #86

    OP what a feeble effort. Mind you it takes a special kind of prick to question parenting skills on here.

    3
  • toon22

    Sep 14, 2019 at 8:46 PM

    Comment #87

    The real trouble he will face isnt what auditor is forced upon him

    Its companies house

    Real shame you seem to dread such a prospect

    4
  • Munster Mag

    Sep 14, 2019 at 8:46 PM

    Comment #88

    Toon22 present me with some evidence to back up 85

    0
  • JimmySaivet

    Sep 14, 2019 at 8:47 PM

    Comment #89

    Best line up is right now versus best line up when all fit

    —-Atsu——–Joelinton——–Almiron—-
    Willems—-Shelvey—-Hayden—-Manq
    —–Dummett—–Lascelles—–Schar—–

    ——-Atsu——-Joelinton——-Almiron——
    Ritchie—-Longstaff—-Hayden—-Yedlin
    ——Dummett—–Leguene—–Schar——–

    Other players that I would use are Muto and Maximin. Muto I think is very unfortunate not to have a couple run of games because I think he will do well. I need to see a little bit more of Maximin to make my mind up whether he would start over Atsu. Atsu has been one of our best players so far this season which is good competition for Maximin when hes back fit.

    Almiron is having a shaky start but I think he unfortunately doesn’t suit our style of play. We need to press, play on the front foot and attack games! I’m fed up with this negative style. We have a really good solid defence, why not play 343 and press teams higher up the pitch? We play too deep. When we play higher up we look like the team more likely to score!! We invite teams to play in our half far too often and that doesnt win games!

    If we take it to teams like Norwich did against man city today we would have a decent season.

    1
  • toon22

    Sep 14, 2019 at 8:47 PM

    Comment #90

    Munster Mag

    Ahh swearing

    Still ignoring some real good news and just arguing ?

    4
  • toon22

    Sep 14, 2019 at 8:49 PM

    Comment #91

    Munster

    read page 2 of this story

    8.2 Consequences for failing to submit accounts to Companies House

    If the registrar believes that a company is no longer carrying on business or in operation, he could strike it off the register and dissolve it. If this happens all the assets of the company, including its bank account and property, generally become the property of the Crown.

    Failure to deliver documents is a criminal offence. All the directors of the company risk prosecution. On conviction, a director could end up with a criminal record and a potentially unlimited fine for each offence. This is separate from the civil penalty imposed on the company for late filing of accounts.

    https://www.gov.uk/government/publications/life-of-a-company-annual-requirements/life-of-a-company-part-1-accounts

    This could happen next Wednesday

    3
  • toon22

    Sep 14, 2019 at 8:50 PM

    Comment #92

    Failure to deliver documents is a criminal offence

    3
  • welshgeordie9

    Sep 14, 2019 at 8:50 PM

    Comment #93

    Hypocrites on here, from top to bottom.

    2
  • toon22

    Sep 14, 2019 at 8:51 PM

    Comment #94

    Its not just this occasion you have defended Jabba

    Is it

    3
  • Jail for Ashley

    Sep 14, 2019 at 8:52 PM

    Comment #95

    Munster Mag,
    Please can you mind your language, I don’t recall anyone calling each other pr!cks and halfwits etc, no need to be so aggressive.

    10
  • toon22

    Sep 14, 2019 at 8:54 PM

    Comment #96

    JimmySaivet

    In my opinion we seem to be in a bit of bother
    Usually teams in bother have to grind out results
    As much as its not popular we need to defend and make ourselves hard to score against
    I would play 1 up front (Joe) with either Miggy or Atsu running from deep
    Playing on the break

    Teams at the bottom dont usually become Barcelona all of a sudden

    2
  • Reilly

    Sep 14, 2019 at 8:55 PM

    Comment #97

    jib ffs.We all know the stuff that you have posted.Taking the piss out of disabled people,the list is endless.Dont embarrass ya seel with trying to deny it.

    13
  • toon22

    Sep 14, 2019 at 8:58 PM

    Comment #98

    He is the Wiki fit and proper rules

    “They become prohibited by law from being a director”

    https://en.wikipedia.org/wiki/Fit-and-proper-person_test

    Its possible companies house could cause this, its distant but something that should make you happy

    3
  • toon22

    Sep 14, 2019 at 8:59 PM

    Comment #99

    Dont forget

    He wont be allowed to run us by proxy either
    New rules about that now, i looking into it

    4
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 9:00 PM

    Comment #100

    Munster

    The support to Bruce’s tactics and game plan after your “fair and balanced criticism” of Rafa shows you for what you are.

    Everyone has your number, disrupt and divide, a wum and not a very good one due to your lack of knowledge of the club and football in general.

    Its hilarious you calling people thick, you cant even remember your kids ages or what you’ve previously wrote on the blog.

    You get shit because you talk shit, end of story.

    10
  • Munster Mag

    Sep 14, 2019 at 9:00 PM

    Comment #101

    Jail do u think I shud hand out platitudes to guys who lie and twist my every word. Really? Does a bit of industrial language offend you , OP etc

    4
  • toon22

    Sep 14, 2019 at 9:01 PM

    Comment #102

    For this to even be a distant possibility shows just how bad the guy is for our club
    You really couldnt make it up

    4
  • Scythe For Bruce

    Sep 14, 2019 at 9:01 PM

    Comment #103

    The Wife – I think there’s a few on here who don’t appreciate what goes on behind the scenes of this blog to keep it running. I’m amazed not only that articles are published every single day, but they get published throughout the day. And with Ed’s health problems over the years it makes it all the more miraculous.

    For Ed and Neil it must feel like being a parent. You do all that work and your kids aren’t grateful at all, and have absolutely no idea what you’re doing for them. And with supposed adults acting like bairns on here constantly, it probably feels even more like that!

    13
  • toon22

    Sep 14, 2019 at 9:01 PM

    Comment #104

    Munster Mag

    Whatever

    Nobody cares

    5
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 9:02 PM

    Comment #105

    Munster

    If you don’t want something brought up on a public forum, don’t bring it up on that public forum.

    Maybe the internet isn’t the place for you?

    5
  • toon22

    Sep 14, 2019 at 9:02 PM

    Comment #106

    Oddly enough

    Its a guy without a gravatar again

    Munster

    Do you need some help setting it up ?

    6
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 9:04 PM

    Comment #107

    Munster

    .I dont mind the bad language but I do ming being called a liar by a LIAR.

    You’ve dropped yourself in it more than once and its others who are the liars and twist things?? REALLY

    Give it a rest you scumbag

    3
  • Munster Mag

    Sep 14, 2019 at 9:05 PM

    Comment #108

    No OP a clutch of loons like you dont like me. Im happy with that. I cud talk with others, like the night shift ? for ages and u can see the type of chat that me, jj, carltoon ny mag have. Because the are relaxed, tolerant and balanced. And then you questikn about my kid and me. What a horrible scumbag u are.

    4
  • Scythe For Bruce

    Sep 14, 2019 at 9:06 PM

    Comment #109

    Belfast – I had to chuckle at your fantasy league mishap. I did exactly the same thing last season I think. I was still learning the ropes on how to play the Fantasy league and my eldest lad had to sit and explain it all to me. I also have to confess that even though the league is set up on my account, he’s the one who did all of it.

    I think he finished second in last year’s league and he’s in the top ten this season, so he must know what he’s doing 😀

    3
  • Paully

    Sep 14, 2019 at 9:08 PM

    Comment #110

    Munster is right up there with Catchy in the Weasel stakes.

    6
  • Munster Mag

    Sep 14, 2019 at 9:08 PM

    Comment #111

    You’ve shown how ignorant you are, asking how my son can support a team besides nufc. Who do you think you are?

    2
  • Paully

    Sep 14, 2019 at 9:08 PM

    Comment #112

    (I can expect to be called thick now)

    3
  • Oldgit1

    Sep 14, 2019 at 9:08 PM

    Comment #113

    @ Reilly there’s only you going on about Jib, you say take it on the chin. Perhaps you should take you own advise. Before I get shouted down and accused of taking jobs side. I didn’t like the post re Tuff.

    Live and let live, he stayed away for a week, enough. He apologised. Unlike a certain poster on here. Still waiting Jfa. Or will you do the right thing and ban yourself for a week. Won’t hold my breath. No doubt you will say you can’t remember. A cop out.

    5
  • Munster Mag

    Sep 14, 2019 at 9:09 PM

    Comment #114

    Ah paully welcome back.

    0
  • Jail for Ashley

    Sep 14, 2019 at 9:09 PM

    Comment #115

    welshgeordie9,
    For once I agree with you, take our friend from Murtons twin town, when it was suggested that a player like Joselu or Manquillo was from down the pecking order of Nicksons list, it was always met with, ”if they’re shite it’s Churnleys buy and if their good it’s Rafa’s why can’t I critique that”
    Munster Mag

    May 25, 2019 at 6:17 PM

    Comment #23
    Correct magpie 0722. Some of the more tunnel visioned blog members somehow managed to convince themselves that the good signings were made by rafa, and the bad ones by…. Someone else:

    however as our poquito manito amigo isn’t here to blame anymore, all of a sudden Murton Mag suggests that a player not good enough has not necessarily been first choice. Munster Mag

    Sep 14, 2019 at 1:49 PM

    Comment #7
    Sounds like he was from way down the purchase list Hail

    Now that welsh me auld squeaking garden gate smacks of down right hypocrisy.

    5
  • Nufc-83

    Sep 14, 2019 at 9:09 PM

    Comment #116

    Andrea Ledsom for owner – well done toon you’ve cracked it!

    2
  • JimmySaivet

    Sep 14, 2019 at 9:10 PM

    Comment #117

    Toon 22

    I think we are overly cautious to be honest. Time and time again we hoof the ball up the field when we could have just kept the ball and worked our way up the pitch. The only reason we do reasonably well playing the way we do is because we are very organised and solid at the back.

    Why not leave the defence to do there job and get up the pitch and make more chances to score the goals we need.

    We rely on a bit of luck and hard core defending. Not my idea of a game of football to be honest. We are better than people believe we are. The right tactics and set up this team is a top half team for sure.

    3
  • Paully

    Sep 14, 2019 at 9:10 PM

    Comment #118

    No avatar wumster? What are you trying to hide?

    I’m sure someone of superior intelligence (as least in comparison to the majority of posters that frequent the blog) by your own admission could quite easily set one up.

    7
  • bettyswallocks

    Sep 14, 2019 at 9:12 PM

    Comment #119

    Munster………… Believe it or not the account of my trip to Limerick that I gave to Jib was actually true.

    0
  • Jail for Ashley

    Sep 14, 2019 at 9:12 PM

    Comment #120

    Oldgit1,
    What is it you think deserves an apology, no cop out, let me know and I’ll let you know!

    3


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