Freddy Shepherd has declared that Mike Ashley is involved with Newcastle United simply to make money out of the club.

Not many of us would disagree with that after the last seven and a half years but for this particular United Chairman to be saying this, will stick in the throat of many supporters.

freddy shepherdSpeaking to the Chronicle, Freddy Shepherd has said about Mike Ashley;

“He is a businessman, end of story.

“He is in it to make money and that is the bottom line.”

Good luck to Ashley;

“Good luck to him, it just happens to be football and everybody’s sentiments are hooked up to it.

“It is a different animal to any other business.”

When it comes to making money out of Newcastle United, Mike Ashley will only look in admiration at how much Sir John Hall and Freddy Shepherd managed to make from our club, particularly when you take into account this was pre-mega TV deals.

The Hall family made £95,748,570 in total from Newcastle United via selling their shares and from salaries and dividends, while the Shepherds made £50,099,604 overall, the final totals becoming public after Mike Ashley bought their shares. A total of £146m made from the football club that they profess to love.

No doubt our current owner will be determined to beat the previous owners when it comes to profiting from Newcastle United and its supporters, with profits of around £50m for the 2013/14 season expected to be announced in the next few weeks.

As they say though, nobody makes money from owning football clubs….

  • Brownale69

    Ha ha keetle black? Mary Poppins! Geordie women are slags?……..go back under the stone you crawled out of. Unless you are putting together a bid or a group to get Cashley out your comments are not welcome.

  • geordieladdo

    Purely with regards to business you cannot knock that guy can you? Buy’s a club with die hard fans knowing that no matter what you throw at them they’ll keep coming back for more.
    Now making money every single season compared to the vast vast majority of other clubs.
    Question I guess, and i dont understand accounts etc so forgive my ignorance, is the money staying within the clubs accounts? does that now mean we have a pot of say 60/70/80M sitting there?
    If we have then i seriously just do not understand what’s going on, other than the fact he doesn’t want to risk that yearly income by providing players good enough to get us into europe or god forbid a good cup run? After all this could be detrimental to a top 17 finish!!
    If it is the case that it stays in the clubs coffers then what is the end goal? to fully claw back that 129M ‘loan’ and then sell?
    Never will profess to understand the guy like!

  • MikeAshleyLies

    If Shephed and Hall had funded everything themselves, taken no dividends and paid no interest the debt Ashley inhereted would have been just £25m.  Excellent value for all that was achieved and shames Ashley’s “achievements”

  • LeazesEnder

    Yes some of us were doing the sums eight years ago… but a football club historically was never a business in the traditional sense, it existed for the fans who are the ‘Club’ 
    What Ashley has done is made it into a money making machine which is dependent on a gullible public and complicit media…rather like the Halls and Shepherds who were taking at least £5 for every £25 spent on a matchday ticket.
    Ashley closed three of the clubs stores in the Metrocentre, Eldon Square, and the Monument, because they were competition for his own brands, he denied the club its own revenue streams…  then there is the biggest revenue stream the ‘free advertising’, there are over 100 traditional hoardings around the ground and of course the perpetual glare of the electronic boards…denying the club its income he tried to get it into his pocket through his SD company AGM to the tune of £200m.
    The previous regime were dishonest, but this guy with no love of the club has no qualms in simply using it to take the sky money with minimum outlay!  People are still convincing themselves there was a debt…there wasn’t…it was manufactured as a concept to instil into the minds of the supporters a need for the owner to extract reparations… 
    When Ashley bought the club he didn’t wait until we had beaten Barcelona to get down to the Bigg Market and Quayside,  I thought that odd…he was just getting the experience over with, because he knew what the next stage was…and so do we!

  • LeazesEnder

    MikeAshleyLies The figure for Shearer was 15m of which Scottish and Newcastle Breweries put up £5m that leaves £10m…. then we sold Ferdinand for £6m… that leaves £4 million…. bit of a bargain really!

  • A lex

    MikeAshleyLies Many people talk cr&p about the ‘inherited debt level’ being supposedly unsustainable. Don’t make me laugh! Since the EPL was formed, football income has increased dramatically year-on-year every season. Anything outstanding back in 2007 would be miniscule in comparison to how the rewards have gone up in the intervening period. Such planning is built into financial projections, and would’ve caused the club not one ounce of a problem.

  • likelylad

    They made more than that.
    Spanish offices, bumper bonuses etc
    They made an absolute killing.

  • likelylad

    It actually cost us money to ‘give away Ferdinand.
    We sold Ferdinand for 6 million because LSE told us to.
    The day after Ferdinand was sold the share value of the club dropped by 6 million because we had sold him.
    That gives an income of zero.
    We then paid Ferdinand a loyalty payment.
    So it cost us to get rid of a superb striker.

  • Nicolaus Copernicus

    Yes, the Halls and Shepherds coined it in, and much of what they did was odious and not befitting our great club, but, unlike Ashley’s, their business model was premised on reaping from success in the field, which meant we as supporters were allowed along for the ride.
    With Ashley there is no ride. All we do now is sit and watch. Watch mediocrity, a mediocrity shamelessly stated as our target, a big fat middle finger firmly and gleefully held up right into our faces.
    An absolute disgrace.

  • A lex

    Nicolaus Copernicus And that’s why I have no problem at all with them. They undoubtedly took rewards, as others do, but they also gave back – gave the club and fans pride, and, by and large, a product on the pitch that gave us the greatest period since the 50’s.
    With Ashley, he just takes, takes and takes……..and we’re bored pooh-less becuase we’re getting nothing back.

  • Dogsheep

    A lex Nicolaus Copernicus Absolutely deluded! We’ve won nothing since 1955! Wind your necks in for gods sake!