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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

  • #BoycottAshley ( OP)

    Sep 14, 2019 at 9:13 PM

    Comment #121

    Munster

    You brought your son and his support of Liverpool on to the blog, if you didn’t want people commenting YOU should have kept your gob shut.

    But you’re a GOBSHITE

    What sort of role model is a father who comes on the blog calling people names from the get go, usually without any provocation?

    I’d expect that from the 12yr old not the father.

    I question everything about a scum bag like you!

    9
  • Munster Mag

    Sep 14, 2019 at 9:13 PM

    Comment #122

    Paully you’re not thick. OP is though.

    0
  • Bants

    Sep 14, 2019 at 9:14 PM

    Comment #123

    geordietom #64

    Can’t believe you have the temerity to call someone out over their spelling/grammar. lmfao!

    6
  • Reilly

    Sep 14, 2019 at 9:16 PM

    Comment #124

    oldgit.What do i have to take on the chin.i have never once took the piss out of disabled people or people with cancer.Can you explain ya comment.

    5
  • Jail for Ashley

    Sep 14, 2019 at 9:16 PM

    Comment #125

    Saivet,
    We had the makings of a mid table pushing for eighth-ish team until the hierarchy decided to bring in a manager with one of the worst win records in the PL and a history of relegating teams, now just give me five minutes while I think what could possibly go wrong by employing that strategy.

    5
  • Nicky the ball tosser

    Sep 14, 2019 at 9:18 PM

    Comment #126

    ——-Almiron——Joelinton——St Max——
    Ritchie—-Longstaff—-Hayden— Manquillo
    ——–Lejuene—–Lascelles—-Schar——–

    Think this is perhaps our best team and formation and gives us a strong bench.

    Maybe Carroll up top and Joelinton competing with him, or Joelinton competing with Atsu, Almiron and St Max wider and a bit deeper.

    Agree that we should press a bit earlier and higher up the pitch against all but the senior sides, but we are at our best on the counter.

    3
  • Munster Mag

    Sep 14, 2019 at 9:18 PM

    Comment #127

    Without provocation? You cheeky lying fool. And you are the one who questioned how I could let a child who is not from Newcastle to support the winners of the european cup. who do you think you are? Just to provoke. Dont comment to me again, idiot.

    1
  • Reilly

    Sep 14, 2019 at 9:20 PM

    Comment #128

    Sorry like munster,but if you support Newcastle ya son does by default.Dont lose him to the dark side. 😆

    5
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 9:23 PM

    Comment #129

    Munster

    Not everyone is as stupid as you.

    I’ve no need to comment to you unless you keep bringing my name up, which you constantly do, along with Jail Tsunki etc.

    You’ve been upto the same shit for years, you’ve done it and still do it with Jail.

    Leave a BS comment aimed at him at 1am then when he replies next day, “jail you’re obsessed”

    Give it up you fool, lying gobshite.

    12
  • Jail for Ashley

    Sep 14, 2019 at 9:24 PM

    Comment #130

    Munster,
    You claimed you have been attacked yet scoffed at me when I used that phrase when talking about carl and his attacks on me and my family, can you explain the difference please?

    8
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 9:26 PM

    Comment #131

    Munster

    You do realise you’ve been calling myself and others for weeks yet I only mentioned your son a few days ago.

    Do you have a crystal ball?

    Can you see into the future?

    Or are you a gobshite?

    Hmmmm

    6
  • Munster Mag

    Sep 14, 2019 at 9:26 PM

    Comment #132

    Reilly its not as easy as that. With all due respect, the nufc supporting population is tiny. The liverpool fanbase is enormous.

    0
  • Moonraker15

    Sep 14, 2019 at 9:29 PM

    Comment #133

    With Ashley as owner our club is slowly dying! We are being left behind when we should be one of the leaders in improving the premier league.
    At the same time Ashley’s Sports Direct is dying and he’s effectively lost control of his business. He is doing a Phillip Green losing his fortune through his pig headedness.
    Meanwhile we are the laughing stock of a football team.
    Jib, I can see why you would want to find another blog because this one is genuinely Anti Ashley! And you are a closet supporter or even an associate of KBA. Anyone who even remotely supports the regime needs to look closely at our club now after 12 years of Ashley! It’s not good!

    7
  • Reilly

    Sep 14, 2019 at 9:30 PM

    Comment #134

    glory hunting.Not a good trait to have is it.

    3
  • Munster Mag

    Sep 14, 2019 at 9:32 PM

    Comment #135

    Reilly, am referring to the general football supporter breakdown over here. Its all man u. Liverpool. Big 5

    2
  • toon22

    Sep 14, 2019 at 9:33 PM

    Comment #136

    JimmySaivet

    Yeh it would be nice to watch attacking free flowing football
    But its not going to happen right now

    We are in trouble and usually teams dont suddenly attack their way out of it
    They are usually there for a reason

    As for the pro Jabba brigade

    Next Wednesday

    😉

    6
  • toon22

    Sep 14, 2019 at 9:34 PM

    Comment #137

    Munster Mag

    Do you need help setting up a gravatar ?

    7
  • Jail for Ashley

    Sep 14, 2019 at 9:34 PM

    Comment #138

    Anyway, it’s onward and upward from here, looking forward to all the Andy Carroll ready stories that we’ll see released to the press all week as they try and flog tickets for Brighton.

    5
  • Essex Geordie Bill

    Sep 14, 2019 at 9:34 PM

    Comment #139

    What’s the news on Schaars injury?

    2
  • welshgeordie9

    Sep 14, 2019 at 9:35 PM

    Comment #140

    Why are you lot still arguing, get over yourselves, ffs.

    3
  • Jail for Ashley

    Sep 14, 2019 at 9:38 PM

    Comment #141

    welshgeordie9,
    I wish you’d get an avatar, that would reveal a few truths I think.

    5
  • welshgeordie9

    Sep 14, 2019 at 9:40 PM

    Comment #142

    Don’t need an avatar.

    1
  • MagpieRanger

    Sep 14, 2019 at 9:40 PM

    Comment #143

    Toon22, do you mean Wednesday the 18th or 25th? I’m actually praying the bloke ends up in prison.

    4
  • carltoon

    Sep 14, 2019 at 9:41 PM

    Comment #144

    Nicky what did I tell you last night re Krafth? You and Lilongwe saying he was our best option.

    2
  • Essex Geordie Bill

    Sep 14, 2019 at 9:42 PM

    Comment #145

    Looking forward to Wednesday in the hope that all of Toon22’s good work brings Jabba down.

    Or is it Belgium we should be thanking?

    3
  • bettyswallocks

    Sep 14, 2019 at 9:42 PM

    Comment #146

    I’d have no son of mine supporting another team. Call me old fashioned but if it was my son he’d get a proper flop upside of his lug to get him back in line sharpish like.

    10
  • Munster Mag

    Sep 14, 2019 at 9:42 PM

    Comment #147

    Reilly thats a bit unfair. Its a totally different fan base here with no geographical ties. Kids over here support their local hurling, rugby etc teams. Trying to get a kid to support a mid table or worse team is no easy task. My young fella calls nufc “we” and “us” quite alot but liverpool have edged ahead. Hard to prevent.

    3
  • Jail for Ashley

    Sep 14, 2019 at 9:43 PM

    Comment #148

    welsh me auld balding pate, I know you don’t as it would show up all the other names you’ve used in your infantile pesting of this blog, no sheet Sherlock.

    4
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 9:43 PM

    Comment #149

    We weren’t too bad today, disappointed with a couple of things but we didn’t embarrass ourselves at all.

    Made some decent chances down the left, Atsu and Willems linked up and did well.

    With Almiron not being a RW regular it exposed Krafth more than you’d want. From what I’ve seen we shouldn’t have bothered buying him, he’s not better than Yeddlin or Manquilo.

    Soon as Maine went out to the left we were in trouble.

    Shelvey was all over, loads of energy and proving a few including myself wrong.

    Bruce needs to figure a way to get support to Joelinton quicker and have runners going past him.

    That was a better display than Spuds but we lost, overall Liverpool probably edged it but on chances it could’ve been 4-4..

    Few decisions I’m surprised VAR didn’t pick up, weird how you expect something to be pulled back and nowt.

    Doubt I’ll ever get used to VAR, it’s like a coin in your xmas pud, could be good, could ruin your day.

    2
  • Essex Geordie Bill

    Sep 14, 2019 at 9:44 PM

    Comment #150

    Carltoon

    A few of us wondered why Krafth was getting the Werk over Manquillo!

    2
  • Essex Geordie Bill

    Sep 14, 2019 at 9:47 PM

    Comment #151

    TV time, later!

    1
  • Nicky the ball tosser

    Sep 14, 2019 at 9:47 PM

    Comment #152

    Carltoon, I personally think Manquillo is our best option at rwb, but I suppose that Bruce sees Krafth as the better option defensively, against stronger sides. He might have done better with the first, ether threw himself at the ball, or not dived in. Other than that he did okay, against a great player. You gotta recognize Liverpool are a great side, particularly their front 3.

    4
  • carltoon

    Sep 14, 2019 at 9:48 PM

    Comment #153

    Munster don’t worry about it. My son supported Liverpool when he was young, he supports NUFC now, ,but none of my kids or grandchildren want know even when I bribe then. they think I’m mad for still going.

    1
  • Jail for Ashley

    Sep 14, 2019 at 9:48 PM

    Comment #154

    To be fair Munster you’ve only yourself to blame, the poor lad has heard you mercilessly ”critique” the best thing about the club since he was nine years old and thought what’s the point, if the manager can’t attack, makes shite signings, is a tactical dinosaur and worst of all has really little hands and all he’s good at is inviting disabled people to training then I’m not supporting that shower he’s decided to himself.

    12
  • carltoon

    Sep 14, 2019 at 9:51 PM

    Comment #155

    My dad supported Sunderland. It didn’t effect me. You make your own mind up when you get older.

    1
  • carltoon

    Sep 14, 2019 at 9:55 PM

    Comment #156

    Nicky I didn’t see the game just going from what I heard on the radio. then had to go out. so can’t really comment myself. Just think Manquillo until Yedlin gets back. Then ease Krafth in.

    1
  • welshgeordie9

    Sep 14, 2019 at 9:57 PM

    Comment #157

    Jail

    You don’t know the person behind them anyway, so what’s the difference.

    1
  • carltoon

    Sep 14, 2019 at 9:57 PM

    Comment #158

    They seem to be putting a mural on the wall of the Gallowgate. Where they have removed the fans display.

    1
  • bettyswallocks

    Sep 14, 2019 at 9:57 PM

    Comment #159

    Munster………. Surely you could just put your foot down and display a bit of serious parenting.

    3
  • carltoon

    Sep 14, 2019 at 10:01 PM

    Comment #160

    Ooh trying to improve the appearance of the ground, someone must have mentioned it was a flaming disgrace.

    0


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