How has the Newcastle United club debt situation changed under Mike Ashley?

Before the multi millionaire (now multi billionaire!) rode into town/toon, the popular conception was that the club was massively on the slide.

mike ashleyUnder the leadership of Chairman Freddy Shepherd and biggest shareholder John Hall, shocking managerial appointments such as Graeme Souness had helped put the club in a desperate position.

Debt was rising as the club’s major shareholders and decision makers backed disastrous signings such as Boumsong, Luque and Owen, desperate to keep the fans filling the ground and United competing at the top.

(Thanks to Chris Holt for the great graphic below and you can visit his blog HERE, plus you can follow him on Twitter @MikeAshleyLies)

As you can see level of debt owed by the club has never been as high as in Mike Ashley’s time at the club, the figures taken from the official club accounts each year.

The big question for many of us is what will be revealed in the 2013/14 accounts which are due in the coming weeks, with a potential profit of around £50m thanks to the TV cash bonanza kicking in, the sale of Yohan Cabaye and no players bought.

Will Mike Ashley have reduced ‘our’ debt to him?

mike ashleyhhhh