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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 10:02 PM

    Comment #161

    All this is ashleys doing.
    So lets all undo ashley.
    Stand up against him.
    Stand up for your club.
    Standing together we will get rid of ashley.

    11
  • MagpieRanger

    Sep 14, 2019 at 10:07 PM

    Comment #162

    So is next Wednesday this Wednesday or the Wednesday after? Lmao.

    3
  • toon22

    Sep 14, 2019 at 10:24 PM

    Comment #163

    MagpieRanger

    Well if Jabba dont appoint an auditor by 18/09/19 which is next Wednesday things will be out of his hands
    Im sure as a toon supporter your delighted at the prospect
    Ive linked the reason why this might be a good thing for our club

    Maybe you could explain why this is not happening ?

    5
  • Sheikh MagToon

    Sep 14, 2019 at 10:26 PM

    Comment #164

    So he’s a self made multi millionaire and we’re not. Does that mean we are better owners of a Premiership club that requires multi millions of pounds to fund on a short to medium term basis, given the length of players’ contracts? I think not.

    1
  • toon22

    Sep 14, 2019 at 10:27 PM

    Comment #165

    Yes its a long shot
    Yes its dont a given

    But i doubt anyone who is running a multi billion £ business would like to have ended up here
    Id guess that if he could appoint an auditor he would have

    Its going to have lots of consequences he wont like

    Ive listed why i think this and have provided links to what ive based my opinion on

    4
  • Munster Mag

    Sep 14, 2019 at 10:28 PM

    Comment #166

    Reilly thanks for your judgement on my young fella and calling him a glory hunter. Sorry, i’ll see if he can support Plymouth to see if his character matches up to your lofty standards of measurement.

    0
  • toon22

    Sep 14, 2019 at 10:29 PM

    Comment #167

    Some posters think it will never happen

    Maybe so

    But as a supporter i wonder why they wish it didnt ?

    5
  • Munster Mag

    Sep 14, 2019 at 10:29 PM

    Comment #168

    22 if fats feels the heat on weds then thats all good.

    0
  • toon22

    Sep 14, 2019 at 10:30 PM

    Comment #169

    Munster Mag

    Dont bring up things you dont want people to talk about on the net

    Thats not yer point though is it

    5
  • Reilly

    Sep 14, 2019 at 10:32 PM

    Comment #170

    Wny does he want to support them teams!!

    1
  • toon22

    Sep 14, 2019 at 10:34 PM

    Comment #171

    Sheikh MagToon

    He is a parasite who should be removed not just from us but from any sport

    You seem to like what he has done to us

    6
  • MagpieRanger

    Sep 14, 2019 at 10:35 PM

    Comment #173

    Toon22, let’s hope for the best. Even if it does affect NUFC (I personally think it will) it would be great to see him squirm.

    I think he’s up sh*t creek. I think the City and our government despise him just as much as we do, I hope he gets annihilated.

    6
  • MagpieRanger

    Sep 14, 2019 at 10:37 PM

    Comment #174

    Doesn’t*

    1
  • Munster Mag

    Sep 14, 2019 at 10:43 PM

    Comment #175

    22 I brought up my young fella in general banter weeks ago. Now I have ballbags questioning why he can support a team besides nufc? Are you for real? Is it ok with you if a non english non british non geordie supports a team other than his dads team? Nufc have no kids supporting them over here that I have seen. It comes from years of non achievement . Villa everton wolves watford etc have stuff all too. Way of the world.

    2
  • toon22

    Sep 14, 2019 at 10:43 PM

    Comment #176

    MagpieRanger

    You hope he dont get annihilated ?

    I hope he spends 500 years in prison

    3
  • toon22

    Sep 14, 2019 at 10:45 PM

    Comment #177

    Munster Mag

    What are you on about ?
    Your talking about something people have an opinion on of your own doing
    Nobody knew or cared about your kids

    You brought it up and are now nor happy people have an opinion

    8
  • MagpieRanger

    Sep 14, 2019 at 10:45 PM

    Comment #178

    I hope he DOES get annihilated. I was correcting myself where I meant to put even if it doesn’t affect NUFC.

    1
  • toon22

    Sep 14, 2019 at 10:46 PM

    Comment #179

    Now your not

    1
  • toon22

    Sep 14, 2019 at 10:47 PM

    Comment #180

    MagpieRanger

    If doom happens it will affect the club, simple as. Theres so many ways it will theres no way he can wriggle out of it

    Next Wednesday

    5
  • MagpieRanger

    Sep 14, 2019 at 10:47 PM

    Comment #181

    Ashley deserves a prison sentence. Imagine… I’d only have two wishes left!

    5
  • Reilly

    Sep 14, 2019 at 10:50 PM

    Comment #182

    munster playing the victim AGAIN.jog on daft lad.It was you that whinged on about ya lad being a glory hunter.The blog was none of the wiser till you brought it up.

    11
  • MagpieRanger

    Sep 14, 2019 at 10:51 PM

    Comment #183

    600 million quid take bill… Senior executives resigning… No one prepared to audit SD… shares dropping like a hot patatoe. It doesn’t look very good, does it Mike?

    6
  • toon22

    Sep 14, 2019 at 10:53 PM

    Comment #184

    To be clear

    Im not saying it all ends Wednesday, far from it
    But i am saying if he dont have an auditor by then things are out of his hands , beyond his control

    It dont take much of a stretch of the imagination how things might pan out

    Its uncharted waters, no company has ever ended up in such a mess

    6
  • MagpieRanger

    Sep 14, 2019 at 10:54 PM

    Comment #185

    Couldn’t happen to a nicer bloke

    5
  • toon22

    Sep 14, 2019 at 10:55 PM

    Comment #186

    Regardless of anything else

    He has a deadline thats 4 days away for his multi billion £ business

    He might de-list i suppose , not sure if its possible in the next 4 days though

    5
  • toon22

    Sep 14, 2019 at 10:58 PM

    Comment #187

    But we are ,as fans, told the guy “saved” us

    It could be farther from the truth

    7
  • MagpieRanger

    Sep 14, 2019 at 11:00 PM

    Comment #188

    I suddenly feel a lot more positive. I just feel like something is going to catch up with Ashley eventually. Hopefully everything at once. Tick tock…

    6
  • Munster Mag

    Sep 14, 2019 at 11:01 PM

    Comment #189

    Reilly you need a reality pill. i’ll tell him of your annoyance that he doesnt choose to support a lower mid table team like us

    0
  • toon22

    Sep 14, 2019 at 11:04 PM

    Comment #190

    Munster Mag

    Dont bring things up youd rather not talk about on the internet

    7
  • Munster Mag

    Sep 14, 2019 at 11:04 PM

    Comment #191

    The only thing im a victim of is sharing nufc support with a handfull of muppets Reilly.

    0
  • Munster Mag

    Sep 14, 2019 at 11:05 PM

    Comment #192

    Pukki is so good

    0
  • Reilly

    Sep 14, 2019 at 11:05 PM

    Comment #193

    wtf. 😆

    2
  • Munster Mag

    Sep 14, 2019 at 11:08 PM

    Comment #194

    22 ffs I was chatting with fellow nufc fans that I was losing my young lad to liverpool a few weeks ago. Not sure why that should cause an issue. Banter?

    2
  • bettyswallocks

    Sep 14, 2019 at 11:10 PM

    Comment #195

    Munster………..You really are missing the point here. To come on a NUFC blog and tell everyone about your son’s decision to support our rivals over in Merseyside particularly on a day when they have just beaten us , can serve no purpose other than to inflame folk.

    As to whether he is entitled to make that choice being the son of a supposed Toon fan is debatable. My opinion is that your influence over his decision is weak so you have to be held partly responsible. At best this is lax parenting and at worst totally irresponsible .

    13
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 11:10 PM

    Comment #196

    Ashley wont get one of the top 4 as a auditor by Wednesday.

    I’m sceptical to say SD were dropped because of dodgy books, I think it’s more like they don’t like Ashley himself or how he goes on about his business.

    He was great when he was making everybody money, now that’s not on the cards people have had enough of his shit.

    He’ll go down with SD if he continues as is

    6
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 11:11 PM

    Comment #197

    Infact I’d say he’s nailed on to go down with SD.

    He doesn’t like to be told what to do and doesn’t listen to others.

    5
  • Munster Mag

    Sep 14, 2019 at 11:13 PM

    Comment #198

    Krul superb

    0
  • toon22

    Sep 14, 2019 at 11:15 PM

    Comment #199

    #BoycottAshley ( OP)

    Yeh id agree

    He will fold and they will pick it all up for pence in the pound
    The government will crucify him, all in the name of looking like the are actually doing something about people like him

    Myself i hope he loses his shirt, he didnt have to act how he did.
    He chose to

    He mugged us off for years

    He deserves everything thats coming

    10
  • Munster Mag

    Sep 14, 2019 at 11:17 PM

    Comment #200

    Betty, let me simplify. I was chatting about thd difficulties of holding the kid to nufc weeks ago. Its a home battle thats been going on for ages. Obviously it cant be talked about with some here because it offends your sensibilities. Laughable.

    2


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