The Profits at Mike Ashley MASH Holdings have seen profits double within a year, going up from a very healthy £130.6m to a whopping £256.4m.
The Mike Ashley MASH Holdings saw continued growth by Sports Direct International and right across his ever expanding range of brands. Newcastle United is part of MASH Holdings and the part it plays in helping to create those huge £256m profits can’t be underestimated, via the free marketing and profile that the football club gives the Mike Ashley empire.
The accounts which have recently been filed, also show that MASH Holdings’ net assets rose by 68 per cent to £581.5m.
Things get even better for the Newcastle United owner as in the period since these accounts cover, the share price of Sports Direct has gone up by 75 per cent and so Ashley’s 62 per cent share of SD (owned via MASH Holdings) is on its own valued at £2.9bn on Wednesday’s closing share price.
You may have wondered about the reference to ‘group structure’ in answer to a question asked at the most recent Fans Forum;
Question: If Mike Ashley is committed to owning the club, why doesn’t he just write the debt off?
Answer: The board explained that it would be an option that some clubs would consider, but from the perspective of our group structure there is a requirement to have debt within the structure.
When ‘Group Structure’ is talked about by Ashley and his employees at Newcastle United, it is this ‘MASH Holdings’ that they are referring to, where the Newcastle United owner has grouped together the football club and his brands/shareholdings. The reason for having that debt inside Newcastle United is because for business reasons it suits Mike Ashley, not any kind of goodness of his heart towards our club or the fans.
The following explanation on ownership appears on the Newcastle United official website;
Newcastle United Limited is the company which owns Newcastle United Football Club. The ultimate parent company of Newcastle United is MASH Holdings Limited and the ultimate controlling party of MASH Holdings Limited is Mike Ashley.