Mike Ashley nets £106m windfall
Mike Ashley has woken up on Friday morning to a windfall of another £106m.
The General Election result means that the Conservatives stay in power but have further strengthened their grip as they now control parliament with a majority, no longer needing to be in partnership with another party.
The election result produced Champagne corks popping at Sports Direct (amongst the bosses anyway), as with Labour’s failure it means no crackdown on zero hour contracts which would have potentially given around 90% of Mike Ashley’s employees better employment rights.
With additional costs for Sports Direct as they would be forced to treat the majority of their workforce with some more meaningful respect at last.
Bosses and shareholders alike at Ashley’s retail empire will have rejoiced as they watched the election result come in.
On the back of this news the share price instantly leapt by 5%, so with the Newcastle United owner controlling 55% of the company it equated to an instant increase of £106m in the value of his SD shares.
You just can’t keep a ‘good’ man down…
For Newcastle fans all eyes will be on the directors box on Saturday afternoon as United face West Brom.
After boycotting the last few matches, supporters will be interested to see if Mike Ashley body swerves this one as well.
The NUFC owner has had minions Charnley, Carver and Coloccini all urging us to forget about boycotts and protests, telling us just to turn up and support the team, to protect Mike Ashley’s Premier League TV money and free advertising.
Whether Ashley adds his support remains to be seen.
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