The owner of one of the Premier League outfits, Newcastle United, is Mike Ashley. Mike Ashley is the owner of Newcastle United since 2007. He took over the club in 2007 by rising his stakes in Newcastle United by purchasing the combined stakes of Douglas and John Hall. He raised his shares in few months to 93.19% to complete the squeeze over. However, the English Premier League is looking for a new owner. In this article, we will discuss more about the owner of Newcastle United, their net worth and a proposed take over of the club.
Recently, the owner of Newcastle United, Mike Ashley got into a fight with the Premier League official body as they have put hold on a potential take over of Magpies. The club and Mike Ashley released the statement which stated:
The EPL Rules provide the entire arbitration process is confidential. However, both parties can agree for it to be in public. The club believes it should be. The issues at stake, including the lawfulness of the EPL’s decision making process and the widely publicised alleged influence of the EPL’s commercial partners on the EPL’s decisions, are of far wider interest to other football clubs, fans and the public in general. The recent attempted breakaway by some EPL clubs – and the reaction of the government and public to it – has again highlighted the need for transparency and fairness in football governance
What is the net worth of owner of Newcastle United?
According to the Sunday Times Rich List, Mike Ashley stands in 61st place amongst the richest people in the United Kingdom. He is valued at $3.2 billion according to Forbes. He makes his money by selling sports goods. He owns the biggest sports retail outlet in the United Kingdom known as Sports Direct. As Warren Buffet, he started his first venture in his teenage. Now, he has 800 stores to his name. He made his company go public which helped in accumulating fortunes. However, the deal of signing Newcastle United backfired.
Mike Ashley has tried to sell the club on three different occasions. He took the club into the market in December 2008 but failed to get any buyer. He once again wanted to sell the club in May 2009 and mentioned the price as well. He said £100 million was enough to sell the club. Within a month, the club was back off the market. Again in 2017, he brought the club to the market looking for a buyer. He again failed in his approach to selling the club.
Who are touted to be the new owners of Newcastle United?
Newcastle United are struggling financially and are in dire need to find a new owner or atleast a new investment. The club had almost finalized a deal with a Saudi Arabia crown prince, Mohammad Bin Salman who was also interested in buying the stakes at Manchester United. However, things did not pan out according to the plan as the Premier League body stopped it.
Mohammad Bin Salman, the possible new owner of Newcastle United, was set to buy the club in a 300 million pounds+ deal. He was also assisted by Reuben Brothers and Staveley’s PCP Capital Partners who were set to acquire 10% stakes each. Memes were all over the internet regarding a possible Kylian Mbappe and Neymar Jr transfer to St James Park.
The deal is still possible.
But will Newcastle United have a new owner? Or will Mike Ashley remain the owner of Newcastle United for few more years? Only time can tell.