House of Fraiser

[Kal]

He owns 62% of Sports Direct. For comparison Sir john hall only owned 41% of NUFC.

[Jammy89]

He owns 62% of Sports Direct. For comparison Sir john hall only owned 41% of NUFC.

It's still a seperate company, yes he is the majority shareholder but it is still Sports Direct that bought it with Sports Direct money, not Mike Ashley with NUFC money.

[Kal]

It's still a seperate company

Technically yes, but in reality no. He owns one outright and almost two thirds of the other.

A company would never allow another to advertise it's wares free of charge.

But it's worth asking..... where has all the money gone ?

[waalsendmick]

You would think he would want the best for the company he owned outright?

You would expect him to be convincing other shareholders at his other companies that they needed to invest in the best interests of HIS company.

I understand he needs to keep other shareholders happy at SD, but his willfull neglect if the company he fully owns beggars belief.

Surely a state of the art training complex, an updated stadium, good publicity over bad, would ALL be good for HIS business interests long term?

He runs the club as if he wants to sell, but then behaves in such a way that suggests he will NEVER sell.

[Sclox]

No matter what anyone says or argues NUFC/Sky/player sales money has somehow funnelled its way into allowing this to happen. Hes cooked the books and none can convince me otherwise.

Another shop to avoid.

[Jammy89]

No matter what anyone says or argues NUFC/Sky/player sales money has somehow funnelled its way into allowing this to happen. Hes cooked the books and none can convince me otherwise.

Another shop to avoid.

And i don't think you'll be alone but i personally don't think he's done that, think that is the type of thing that could backfire on him so badly (from a fraud/legal point of view) it would be to much of a risk even for him.

[waalsendmick]

There would be no fraud involved as long as it was shown on the books if both companies (obviously there would be tax to take into account)

Whether directly or indirectly Newcastle United does not prosper from business between the two companies, but sports direct certainly does.

Without the money generated by Newcastle United, sports direct (and Ashley in particular) would not have been in a position to purchase house of Fraser.

[ex_pat_magpie]

That's logical and well reasoned Mick. He's just bleeding the club dry to satisfy any interest he has in anything else.

Everything else he has a finger in he's answerable to shareholders but here he just puts his two fingers up to the "customers" who are making all the money for him.