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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

  • toon22

    Sep 14, 2019 at 11:23 PM

    Comment #201

    Munster Mag

    Your plight is obvious, as it is for most toon fans with kids
    We arent much fun right now

    If that dont urge you to back people who are protesting against the reason its like this nothing ever will

    7
  • bettyswallocks

    Sep 14, 2019 at 11:24 PM

    Comment #202

    Munster……….. Fair enough but maybe today’s not the day for that discussion. I honestly can’t imagine the scenario in your house after today’s result. Surely it’s a question of loyalty to his father not just supporting a team because they win things.

    2
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 11:25 PM

    Comment #203

    Tonn22

    I hope Karma gets him for all the sweat shops all his employees at SD all the Nufc staff he let go and never replaced and for the fans of the club.

    I hope he ends up on the tills at JJB

    6
  • lochinvar

    Sep 14, 2019 at 11:26 PM

    Comment #204

    Need to give credit where it’s due and Tammy formerly tap in Abraham has come of age and looks an exciting player.
    Chelsea looked lively on MOTD.
    Just shows what ambition can do

    4
  • Munster Mag

    Sep 14, 2019 at 11:29 PM

    Comment #205

    22 I want a proper owner too. Why wud anyone want the fire puker?

    0
  • Nufc-83

    Sep 14, 2019 at 11:33 PM

    Comment #206

    Shelvey was pretty awful today and was standing there while firminho was running rings around him. The only player to get his foot in was Hayden on multiple occasions. He needs to be sold along with Krafth ASAP.

    As for Ashley let’s hipd he gets a good kicking which will be fun to see but won’t change the ownership picture for us. We are stuck with him for a while yet I think.

    5
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 11:33 PM

    Comment #207

    A certain person not too long ago was championing the cities of Manchester and Liverpool and how they’ve always had more and been better than Newcastle, which is one of the reasons Nufc could never be as good or big as the teams of said cities.

    Plucky underdogs but no hope of ever being near the top was the overall sentiment.

    It’s hard to understand why anyone with such a low opinion of a area a club a team would support them.

    Comes across as a martyr not a fan.

    5
  • Nufc-83

    Sep 14, 2019 at 11:34 PM

    Comment #208

    Munster don’t listen to this rubbish on your son I know multiple people who’s kids support different teams.

    4
  • stan anderson

    Sep 14, 2019 at 11:34 PM

    Comment #209

    Will all people remember a few short months ago we beat Fullham at their ground handsomely and all was well.
    Here we are now in a situation where we have a lesser Qualified coach running the team and we are fighting among ourselves on this blog .
    This is why we have the probable worst owner in the Premier League.We cant agree on anything as fans.

    3
  • Nufc-83

    Sep 14, 2019 at 11:35 PM

    Comment #210

    Nothing to do with the cities just unfortunately for us we got fatman and they got owners who are ambitious.

    2
  • NY Mag

    Sep 14, 2019 at 11:35 PM

    Comment #211

    Loch,

    I haven’t seen any of Chelsea’s games so far….but, Tammy as leagues top scorer, who’d have thought that!!

    2
  • Genjikai

    Sep 14, 2019 at 11:36 PM

    Comment #212

    Theres a simple solution.
    Stand up against ashley.
    Join the magpie group.
    contact@magpiegroup.org

    8
  • Nufc-83

    Sep 14, 2019 at 11:37 PM

    Comment #213

    The stupid thing is we all want the same thing yet if you don’t think that will happen Toon seems to think that means you don’t want it too. Very hard to get through to someone with his level of intelligence but hopefully it’s clear to the rest.

    3
  • Munster Mag

    Sep 14, 2019 at 11:41 PM

    Comment #214

    Betty thanks for toning it down. In reality he does like nufc asked if “we” could get another joe type of player when he scored v spurs. But in an estate and school surrounded by man u, liverpool and a growing city and spurs element, its hard to argue the case for nufc under ashley. 50,000 fans is all well and good but with fairly cautious football and relegation battles and mid table glory since he was born its hard to hold him when liverpool beat barca and spurs and his two best mates support liverpool aswell. Barf but hard to win. Thankfully he loves us too. Not getting bzg hurt because I told him the sheikh wud throw out the infidel!

    1
  • #BoycottAshley ( OP)

    Sep 14, 2019 at 11:42 PM

    Comment #215

    Newcastle may not be as big or as rich as other cities in the country but the fans turn out on mass.

    Even with 12 years of shit over 44,000 turn up.

    If Nufc had a team and owners like Liverpool or Citeh you could fill SJP twice over and that’s what a lot dont get the city worships the club, THE CATHEDRAL ON THE HILL

    Ashley bought the club to take advantage of the fans loyalty and even the most loyal fans in the country have had enough.

    Don’t piss on our heads and tell us it’s raining, we might stick a umbrella up your arse and open it.

    #BoycottAshley #ashleyout

    9
  • Bleatin' n Bruced

    Sep 14, 2019 at 11:50 PM

    Comment #216

    I think it’s slightly unfair judging Munsters parenting qualifications on his son choosing another allegiance, after all when you look at it logically, don’t all parents want their children to grow to maturity comfortable in their own identity with power of reason, and firm conviction of their own making? Of course they do.

    I always thought that if my son told me he was going to support another team I’d accept his mature decision, and give him £5 for the bus fare to the orphanage while the rest of us moved house.

    12
  • Munster Mag

    Sep 14, 2019 at 11:51 PM

    Comment #217

    Nufc 83 again OP choosing to misinterpret according to his own agenda. I described months ago how liverpool had got the beatles and brilliant managers and man u got busby best and co and all that and newcastle werent lucky enough to get those boosts. It wasnt a slight on newcastle as an area. My visits there were always memorable and I have great time for geordies for obvious reasons. But some on here test the love!

    0
  • Bleatin' n Bruced

    Sep 14, 2019 at 11:53 PM

    Comment #218

    Munster do you shuffle round your house in your shabby grey towelling robe and tartan slippers at five in the morning mumbling

    “Nobody knows
    the trouble I’ve seen,
    Nobody knows my sorrowww…….”?

    6
  • Munster Mag

    Sep 14, 2019 at 11:53 PM

    Comment #219

    Nice one tsunki 🙂

    1
  • Bleatin' n Bruced

    Sep 14, 2019 at 11:54 PM

    Comment #220

    Nope all we had was grimy coal miners and filthy whippets.

    1
  • Bleatin' n Bruced

    Sep 14, 2019 at 11:56 PM

    Comment #221

    My cousin’s husband came from Sunderland and supports spurs. Two of his kids support the urghh..can’t say the name but the youngest is a die hard Mag. A small but powerful presence of sanity in a crazy crazy household. It can happen anywhere.

    2
  • Bleatin' n Bruced

    Sep 14, 2019 at 11:59 PM

    Comment #222

    Wife’s cousins husband. Doesn’t add anything to the story but you have to get your facts right or you’d just be Jib. And we can’t have that. No. No we can’t.

    2
  • Bleatin' n Bruced

    Sep 15, 2019 at 12:00 AM

    Comment #223

    Anyway tired, going to land of nod.

    Chickens. There. Kept my promise.

    🙂

    1
  • NY Mag

    Sep 15, 2019 at 12:02 AM

    Comment #224

    Tsunki,

    Must be the Midi-chlorians in the young one 🙂

    1
  • NY Mag

    Sep 15, 2019 at 12:03 AM

    Comment #225

    Or should I say young Padawan…

    0
  • Paully

    Sep 15, 2019 at 1:29 AM

    Comment #226

    “NY Mag

    Sep 14, 2019 at 11:35 PM
    Comment #211
    Loch,
    I haven’t seen any of Chelsea’s games so far….but, Tammy as leagues top scorer, who’d have thought that!!”

    It would appear Rafa did, busted a gut trying to get the lad here.

    9
  • NY Mag

    Sep 15, 2019 at 1:35 AM

    Comment #227

    Paully,

    Yep, agree.
    Rafa saw something that many people (me included) didn’t. He should be applauded for that

    8
  • lesh

    Sep 15, 2019 at 1:55 AM

    Comment #228

    Munster

    Welcoming Jib back from his ‘self imposed’ (really?) sabattical speaks volumes. You ain’t done your credibility any good.

    4
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