Football finance expert says ‘Amazing’ Newcastle survived so long with Mike Ashley net spend on players
Mike Ashley is hopefully in the final stages of his time owning Newcastle United.
A disastrous decade of low/no ambition has seen two relegations and a number of near misses.
Newcastle reaching safety only on the very final day of the 2014/15 season when winning at home to West Ham, whilst the 2012/13 campaign saw Newcastle finally safe when beating QPR in their last away match of that season.
A football finance expert has now declared that it is ‘amazing’ that there weren’t more relegations in the Mike Ashley era, considering the lack of investment in the squad.
Kevin Maguire lectures in football finance at Liverpool University and also has his own Price Of Football website.
Maguire has revealed that between 2008 and 2015 there was an average net (players bought less players sold) spend of only £700,000 per season.
This happening at a time when the Premier League TV cash was rising dramatically.
It always felt/feels like Mike Ashley is living from season to season and these figures (see below) back up that perception.
Yet again he has gambled this season, refusing Rafa Benitez a penny to spend in January 2016, then a net spend of only £11.5m this summer (Brighton and Huddersfield both had net spends of over £40m), despite the club reporting that Rafa had earned Newcastle United a £40m profit on transfers in summer 2016.
“Between 2008 and 2015 Mike Ashley spent a net £700k (on average) a season on players.
“It’s amazing that Newcastle United survived as long as they did in the Premier League.”
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