Mike Ashley announces big signing after deadline day – Now we know where the money’s gone!

News has broken this morning that Newcastle United owner Mike Ashley is on the verge of completing a takeover of retail chain House of Fraser, at a cost of £90m – his one and only big signing of the summer now deadline day has passed!

The high street giant had been were placed in administration at 8am this morning and apparently Ashley completed his takeover by 10:15am – proving he can do a deal quickly, when he wants to.

The timing is especially frustrating for Newcastle fans and the £90m fee could explain just where the TV money has went from NUFC, after we finished the summer window with a net spend of MINUS £21m.

We all know he uses Newcastle United to promote his other business interests, after a decade of free advertising for Sports Direct. The plans for House of Fraser and whether he will turn them into Sports Direct stores is unclear – either way, it is another  message of he has no intention of investing in NUFC. Quite the opposite, he is using the club and is investing every penny into other businesses; not Rafa’s transfer funds.

More news will develop on this in the coming days but let’s make sure the fans voices are heard loud and clear when Spurs come to visit live on Sky tomorrow.

 (Fancy writing for us? Send any articles/ideas over to us at [email protected] & we’ll get back to you!)

About Simon Riddlesden

Lifelong Newcastle United fan and East Stand season ticket holder. Observations from a supporter who has followed NUFC during Champions League participation and through relegation, taking me from Milan to Scunthorpe.

2 thoughts on “Mike Ashley announces big signing after deadline day – Now we know where the money’s gone!

  1. Bet the movement of funds never shows up in nufc accounts. Bought on the cheap from the administrator. Wish he would now recoup £350 million selling us.

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  2. We all know the reasons now! Been planned for ages & used the NUFC money for his personal gains. . Think HMRC & Parliament should look very closely at this subject!

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