Sports Direct release statement – Bad news for Mike Ashley, good news for NUFC?

Some welcome bad news for Mike Ashley this morning, with confirmation that Shares in Sports Direct have now plunged by 15%.

This comes after SD bosses were forced to delay publication of the company’s long-awaited results, with this coming as a massive red flag for any potential investors.

Here’s a statement they’ve been forced to release, with them confirming they now need more time to sign off the accounts:

“The reasons for the delay are the complexities of the integration into the company of the House of Fraser business, and the current uncertainty as to the future trading performance of this business, together with the increased regulatory scrutiny of auditors and audits.

“These factors have led to a need for the company to compile more information than in previous years for the audit of period ended 28 April 2019, and has therefore impacted on preparations for and responses to increased challenges in connection with this audit.

“Sports Direct would also note that increased regulatory scrutiny is leading to longer lead times generally for the completion of audits.

“Sports Direct believes its accounts and their audit to be at an advanced stage. However, there are a number of key areas to conclude on which could materially affect the guidance given in Sports Direct’s announcement of 13 December 2018.”

Shareholders of SportsDirect do NOT like being associated with a bloke so hated, so, they pack up and move elsewhere – and that’s why we MUST keep the pressure up on both Mike Ashley and his prize asset.

This is good news. It shows our efforts to unsettle both Ashley’s and his business ventures are having some form of effect. Protests outside SportsDirect, outside his home, outside St James’ Park and his other businesses all work for this reason.

We must continue to disrupt and hit him where it hurts – his wallet!

After all, this is all he actually cares about. Not us, not Newcastle United, not signings or our next manager, just money.

(Fancy writing for us? Send any articles/ideas to NUFCblogsubmissions@gmail.com & we’ll get back to you!)

About Olly Hawkins

Olly has been a Junior Magpie from birth. As a season ticket holder and avid Newcastle United fan - he eats, sleeps and breathes all things NUFC.

3 thoughts on “Sports Direct release statement – Bad news for Mike Ashley, good news for NUFC?

  1. Hope the greedy pig goes to the wall. By the way I usually try to see the best in people. Ashley has no best.

      (Quote)

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