Newsletter

Get your daily update and weekly newsletter by signing up today!

News

Mike Ashley MASH Holdings (Incl NUFC) latest profits announced

7 years ago
Share

News just in of the latest pre-tax profits and turnover at Mike Ashley MASH Holdings for the financial year up to 26 April 2016.

MASH Holdings is owned 100 per cent by Mike Ashley and is basically the shares he owns in all of his business interests, including that 100% ownership of Newcastle.

The following info is available for any member of the public to view at Companies House.

The latest accounts show that the turnover of MASH Holdings has risen by £70m to £3,035.5m, with profits of £277.7m.

The part Newcastle United plays in helping to create those huge £277.7m profits and turnover of over £3bn can’t be underestimated, via the free marketing and profile that the football club gives the Mike Ashley empire.

Some out-takes from the accounts relevant to NUFC and this is how the MASH Holdings accounts describe the principal activities of the group.

The principal activities of the group were:

The professional operation of a football club together with related and ancillary activites.

Retailing and wholesale distribution of sports and leisure clothing.

Licensing of group brands.

Other investment activities.

Under Future Developments:

Newcastle United Football Club

The Club will have challenges to face as it looks forward to a new season back in the Premiership.

Then in notes about what happened after these accounts up to 26 April 2016, they confirm (as the Newcastle United accounts did in April earlier this year) that Rafa Benitez made a £40m profit on transfer in summer 2016 BUT that most of that money wouldn’t be received within 12 months, instead it taking around ‘3-4 years’ for it to be banked.

Subsequent to the balance sheet:

Subsequent to the balance sheet date the Newcastle group has generated a net surplus of approximately £40m (2015 – Net spend of £80m) in respect of changes to the playing squad; a substantial proportion of the player sales are on deferred terms and will be received over the next 3-4 years, with the result that in the 2017 year-end there will be a net cash outlay with regard to these transfers.

Previous reporting on Mash Holdings on The Mag:

You may have wondered about the reference to ‘group structure’  in answer to a question previously asked at a past NUFC 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.

Share

If you would like to feature on The Mag, submit your article to contribute@themag.co.uk

Have your say

© 2024 The Mag. All Rights Reserved. Design & Build by Mediaworks