Mike Ashley Diaries

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The diaries of Newcastle United Owner Mike Ashley

For up to the minute news on Mike Ashley see our detailed diaries of Mike Ashley.

See also our feature on Mike Ashley: In for the Long Term

28/12/2008
Ashley brings welcome stability to Newcastle by withdrawing the club from sale and committing to driving the club forward in 2009.
In a statement on the club's official website, Ashley said:
"I am happy to end the uncertainty the fans may have had about the future direction of Newcastle United. I know just how important that is to you.
"I have withdrawn Newcastle United from the market, and for me 2009 will be the year in which we drive the club forward together. Even when I haven't been at games I have remained a keen supporter, kicking and heading every ball and cheering the team on TV and being first to congratulate [manager] Joe [Kinnear] whenever there's a good result."
"When I took the decision to put the club up for sale in September I made a point of saying two things were very important.
"Firstly any potential buyer would have to show they had the best interests of Newcastle United at heart and had both the commitment and finance to be worthy custodians of such a fine football club before I would even consider doing a deal.
"And secondly, I gave you my word that as long as I remain owner, this club would continue to be run responsibly at all levels. I hope you will accept that I have stood by that pledge."

17/05/2008
Dunlop Slazenger to be official supplier to British Lawn Tennis Association
The Lawn Tennis Association are set to announce the controversial decision to appoint Dunlop Slazenger, which is owned by Mike Ashley, as their official equipment supplier.
As part of their new commercial strategy to boost income into British tennis, the LTA have chosen to limit the number of sponsors and Dunlop will be joining an exclusive club.
The LTA, whose 30-year association with Stella Artois was terminated recently, were seeking three tiers of sponsorship, including a headline sponsor, who will be announced shortly. The equipment sponsorship, which is tier three, should be capable of generating Ł1 millions worth of business.
Several brands, including the likes of Head, Wilson and Prince as well as Dunlop, were keen to win it but have been out bid by Mike Ashley.

04/05/2008
Bets Ł480,000 on one spin of a roulette wheel

And wins Ł1.3 million betting around his lucky number 17. This occurred in the 50 London Casino in St James Street, Mayfair where Mike Ashley is a regular on the roulette tables. The number 17 is said to be one of the most common bets in roulette as it lies in the exact centre of the table. Mr Ashley placed a house maximum of Ł2,000 on the number 17, which won him Ł70,000 at odds of 35-1.
The rest of his winnings came from the complex "complete" bet, which is generally not advised by gamblers as it is tantamount to "putting all your eggs in one basket".
This also explains the mystery of why Mike Ashley wore the number 17 Alan Smith shirt at Newcastle United matches.
For full details of the bet he made see here

27/04/2008
Moving down the Sunday Times Rich List
Now standing at 54th richest person in the UK worth Ł1,398 million, Down from 25th place last year when he was worth Ł1,900 million. With his Newcastle holding, property deals, dividends, salaries and cash he would be worth Ł1,527 million but his Ł129 million he lost betting on the share price of HBOS has been taken off.

22/04/2008
Celebrating first derby win
After drawing all 3 previous derby games against Sunderland and Middlesbrough, Newcastle United finally recorded their first derby win for Mike Ashley.
Ashley himself celebrated with the fans. He started before the game by going to the Black Bull pub on Barrack Rd handing out pints of lager to anyone who wanted one.
He then watched the game with family and friends and danced a jig in the Directors box at the end before going down to the dressing room to congratulate manager Kevin Keegan and the players.
Then he made his way to the Platinum bar at St James' Park and bought over 100 pints for the fans in there.
He's certainly becoming a popular figure amongst the fans on Tyneside

23/03/2008
Ashley loses Ł129 million spread betting on HBOS shares
Mike Ashley has lost a chunk of his fortune after betting on share movements in Halifax Bank of Scotland (HBOS).
Ashley took a wager with IG Index, the spread betting firm, that shares in HBOS would rise in the first quarter of this year, but they have actually fallen 36% to 473p.
Ashley is thought to have lost as much as Ł129 million after making a series of bets on the banks shares at the end of last year.

20/12/2007
Sports Direct struggling for fitness
Sports Direct unveiled a 70% crash in first half year profits which plunged from Ł70 million to Ł20 million. Mike Ashley blamed the summers floods, the consumer slowdown and England’s failure to qualify for Euro 2008 for the poor figures.
Sports Direct also admitted to losing Ł31 million on the falling US dollar as it buys dollars in advance to pay Asian suppliers.
The shares have nosedived 67% since they floated at Ł3.00 but rose on the announcement of the results on the expectation Ashley will take Sports Direct private again. However Ashley has denied this.

06/10/2006
Ashley forks out Ł22 million on a new motor

In the battle for supremacy in the heady world of corporate jet, Mike Ashley, the Sports Direct tycoon, has stolen bragging rights from Sir Philip Green, owner of Topshop and BHS, with a Ł22 million swoop.
Ashley has bought a Bombardier Global Express, one of the most luxurious models on the market. For Ł22 million he gets an ultra-long range private jet that can fly intercontinental distances - such as New York to Tokyo – without the need for refuelling. Other famous owners include Oprah Winfrey, Steven Spielberg and Celine Dion.
The Gulfstream G550 owned by Sir Philip Green rivals the Bombardier Global Express in nearly every facet except length.
Yet both billionaires are trumped by Roman Abramovich, the Chelsea Football Club owner, who counts a modified Boeing 767, complete with two gyms, in his personal collection.

20/09/2007
Sports Direct buy Everlast whilst rumours grow of buy back
Confirmed to the City that Ł90.8m purchase of Everlast Worldwide boxing brand was complete.
Meanwhile Mike Ashley further annoyed the City by cancelling a series of ‘clear the air’ investor meetings telling shareholders he is too busy to talk to them. This further fuelled speculation that he is plotting to buy Sports Direct back on the cheap.
Having floated at 300p shares are now standing at 123p, down 2p today.

10/09/2007
Sports Direct AGM – profits down but still stake building in suppliers
Only four shareholders turned up, probably as the AGM was held at their clothes depot in Shirebrook, Nottingham a 45 minute drive from the nearest major rail station.
Profits for previous quarter were announced to be Ł149m on sales of Ł335 but much to annoyance of the City no comparison to previous years was given. Widely understood though to be 20% down on last year.
Also announced was a 4% stake taken in key supplier Umbro with no statement as to why.
Ashley commented on running a PLC that “I’m finding it very challenging, especially the procedures” leading to further speculation that he will buy back the company.

30/08/2007
Sports Direct take criticism over Directors pay and sparsely populated board
An identical criticism that was frequently made against the Freddie Shepherd Board at Newcastle prior to Ashley’s arrival.
Shareholder body RREV briefed City institutions that it was unhappy with discretionary bonuses of Ł5 million being paid to Mike Ashley and Finance Director Bob Mellors.
They are also advising that there should be 2 more independent directors on the Board.
Advisory body PIRC is urging shareholders to vote against the directors pay report at the Sports Direct AGM on September 11th.

29/08/2007
Ashley celebrates Newcastle victory
Following Newcastle’s victory against Barnsley Mike Ashley and Christ Mort went over to Blu Bambu - planning to celebrate as they would! However they got turned away at the door because Mike was wearing his Newcastle shirt (and the dress code at the night club states no football shirts to be worn inside)
However Mike asked to speak to the manager and after showing him his business card the manager changed the club rules to allow owners and chairmen of football clubs to wear their team strip in to the club. After entering he spent time mainly in the VIP area. However he also bought everyone in the club at the time a drink ( not doubt the most expensive round I've heard of) and tipping bar staff approximately Ł500 all in all his bar bill came to Ł2500 (plus tip) making it a decent night. He was there till it closed at 3am and even stayed about to sign autographs, pose for photos and talking to fans!

26/08/2007
Ashley attends his first Newcastle match

Defies all allegations of being the new Howard Hughes by appearing in the Middlesbrough directors box in a Newcastle shirt with number 17 and Smith on the back. Ashley had arrived booted and suited and obtained approval from Middlesbrough chairman Steve Gibson to wear the black and white shirt. This was Newcastle’s third premier league game since Ashley took over and he took his seat next to Chairman Chris Mort and Team Manager Sam Allardyce. Ashley was seen to leap up and grasp Chris Mort in a bear hug when Charles N’Zogbia scored Newcastle’s first goal. Sure signs the Geordie fever is beginning to take it’s hold on him. Will he be bare chested swinging his Newcastle shirt above his head when he takes his place in the Newcastle directors box ??

21/08/2007
Rumours of a new bid for Newcastle United from Icelandic pair
This time from Icelandic business man Jon Asgeir Johannesson, chief of Baugur. He's teamed up with Palmi Haraldsson, who runs another Icelandic investment group Thera, and are reported to have approached Alan Shearer with a view to becoming involved with the bid.

17/08/2007
Pays a further Ł30 million into Newcastle United
This was to help clear a loan guaranteed by ex Chairman Freddie Shepherd. The investment comes as Ashley and his advisers, Kaupthing, examine possibilities for the refinancing of the club.

09/08/2007
Offer received for Newcastle United from a Chinese consortium.
An exclusive in the Sun yesterday states that Ashley received an offer from a Chinese consortium to buy Newcastle United and give him a quick Ł20 million profit.

01/08/2007
Takes his new woman off on Mediterranean Cruise
Despite best efforts to keep out the press Ashley was caught by the Daily Mail celebrity watchers:
Ashley, 42, who owns Lilywhites and Dunlop, is dating Yvette Elmore, said by friends to be 'a Sloaney but very attractive divorcee'.
The couple have been stepping out together discreetly for some months and Ashley has invited her to join him on a romantic cruise aboard fellow tycoon Sir Philip Green's fabulous yacht, Lionheart, around the Mediterranean.

30/07/2007
Profits warning and Sports Direct halves in value

Sports Direct shares fell by 22% today after the company issued a major profits warning at its maiden results since floating on the London Stock Exchange. The value of Sports Direct has halved since it floated on the Stock Market 5 months ago coming in for stinging criticism from the City.

25/07/2007
Ashley enrages the City by calling them cry babies
“I’ve got balls of steel,” said Ashley. “Some investors have been great and have been very supportive. But some of these City people act like a bunch of cry babies.”

06/06/2007
Sells Addidas shares and makes Ł28 million profit in 8 weeks

23/05/2007
Buys Sir John Hall’s stake in Newcastle United
Tables a bid valuing Newcastle United at Ł133 million after buying 42% of club off Sir John Hall

27/03/2007
Spends Ł180 million buying 3.14% of Addidas

28/02/2007
Sports Direct floats on the stock market
Mike Ashley becomes 25th richest in the UK making Ł929 million in one day floating 43% of Sports Direct. He retains the role of Executive Deputy Chairman and ownership of a 57 per cent stake.

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