The battle goes on against Mike Ashley.

Newcastle fans continue to run online interference on the social media of the NUFC owner’s retail empire, whilst another mass demonstration will take place at 1pm on Sunday outside Sports Direct in Newcastle City Centre.

An open meeting for fans to help decide future action against Mike Ashley is also scheduled to take place at the Labour Club on Leazes Park Road, 7pm kick-off on Wednesday 5 September.

For those people outside the region, the Mike Ashley PR machine is at full throttle as it attempts to muddy the waters and portray Ashley as the victim, with the fans and Rafa lucky to have him. Lined up to peddle this line have been all kinds of dubious characters, with Dennis Wise, Richard Keys, Sam Allardyce and Andy Gray leading the charge.

However, plenty of credible people, who don’t happen to be Newcastle fans, also know the true story.

Those in the media and elsewhere who are prepared to speak up and help expose the disgraceful way Mike Ashley runs Newcastle United.

One of those people is Kieran Maguire, who is a lecturer in football finance at the University of Liverpool.

He has regularly written in the past about Newcastle United and Mike Ashley, as well as of course, the situations at many other clubs.

Most recently he has spoken about Liverpool, this week commenting on the news that Sheik Khaled Bin Zayed Al Nehayan (cousin of Manchester City owner Sheik Mansour) had failed with a bid of £2bn to buy the scousers.

FSG paid around £300m for Liverpool in 2010, some three years after Mike Ashley bought Newcastle United.

Unlike Ashley, in their time owning the club, the Liverpool owners have invested in the first team squad, as well as making significant investment in the stadium, training complex and Academy.

Now Kieran Maguire says that he can perfectly understand why they weren’t accepting £2bn for the club, saying that if they keep doing things right, FSG could have a football club worth £3bn in four or five years time.

When talking about who may or may not buy Liverpool, or indeed any other club, Kieran Maguire declares ‘My concern would always be what the motives of the potential owners are.’

Putting forward a prime example of the kind of character who a supporter most definitely wouldn’t want buying their club, Maguire says: ‘If Mike Ashley, for example, offered £2bn for the club I supported, I’d be soiling myself.’

Whilst I wouldn’t claim that Newcastle could have been worth £2bn by this point. If Mike Ashley had run Newcastle United on ambitious lines these past 11+ years, making proper investment in the playing squad, Academy, St James Park and the training complex, rather than looking to simply be a Sports Direct billboard and trying to survive in the Premier League on the lowest possible spend, then NUFC could have been worth massively more than what its true worth is today.

Kieran Maguire talking to the Liverpool Echo:

“FSG see a lot more growth in the club, in their masterplan, they’ll believe in four to five years Liverpool will be worth closer to £3bn.

“The most recent Premier League takeover deal that went through was at Arsenal where Stan Kroenke bought out Alisher Usmanov. That valued Arsenal at around £1.8bn.

 “If Arsenal are worth £1.8bn then Liverpool are worth at least £2bn. And if they continue to succeed on the field then they could easily add another £500m in the next few years.

“From an FSG point of view, it would be daft to sell for £2bn.

 “Matchday revenue is up, television money is up and commercial input is up because Standard Chartered have renegotiated their shirt sponsorship deal.

“My concern would always be what the motives of the potential owners are.

“If Mike Ashley, for example, offered £2bn for the club I supported, I’d be soiling myself.

“FSG appear to be doing the right things for the right reasons. Of course there is a financial benefit to them, but I don’t think Liverpool fans can really begrudge their investment in the stadium, the facilities and the squad.

“Liverpool are becoming everybody’s second favourite team again, and there are huge positives for the city in general on the back of people talking about Liverpool in a very positive light.

“The value of the club is a barometer of the success of the owners. And the fact Liverpool are increasing in value is a sign FSG must be doing it mostly right.”

  • Sing in the Leazes

    Eee god…you can imagine Newcastle making a £30m profit every summer and every January for the next 10yrs and Ashley/Keys/the forces of darkness still peddling some twaddle about instalments or inerest free debt or whatever nonsense buys him another 6 months gravy.
    This article proves what a lie that is. In the current climate the only way forward is to grow. Invest!
    Plus it’s not as SOUL DESTROYING.
    Unless you’re that deluded business illiterate northern Tory known as Sponkseating mag….

    • Sickandtired

      Interest free is the biggest joke of all. Who the F cares! If we’d continued paying the St James’ mortgage, with interest, then it would have been paid off by 2016 and the ‘club’ would have £43 million less ‘debt’.
      Now we have £144 million and Fatty has had £29 million more back. Anyone who can’t understand this basic fact needs to take their head for a [email protected]

    • Ron

      You can’t keep making a profit for two reasons, firstly you need to buy in order to sell so already up a gum tree, secondly you need a top coach like Rafa to improve what you have, and he’ll be on his way.


  • Paul Patterson

    Everyone can see the shoddy way Ashley has run the club. The only people who can’t/don’t are the trolls, apologists and the hired mouthpieces.

    • Toontaff

      The minions!

  • panther

    we need to get the fat man soiling himself at every SD board meeting, KEEP UP the protests, even at his satellite shope ie Kingston Park, keep jamming up the warehouse, hit him with every underhand tactic you can think of because thats what hes been doing the past 11 years

  • TheFatController

    As some analysts have said, a summer window of trading at £20m profit should be viewed as a good thing….

    ….only if the club is poorly run and not making profit anywhere other than on transfer dealings.

    The one thing never mentioned about the situation for new owners coming in is that they could cover the costs of training ground improvements with the money they would get from the fans being happy to spend with the club on top of their seat price for the first time in years.

    Shirts, pies, beers, mouse mats, set of golf tees and shoe scraper, club crest tie, third kit car pendant – the usual tatt we all have lurking in a cupboard somewhere from
    The pre-Ashley era!

    • Sickandtired

      That tat now benefiting SD shareholders instead.

  • Monkseaton Magpies

    Think this the loon who said we only lost £20m in the latest set of accounts and did not include items like players bonuses and paying off players contracts. The actual loss is £54m. Where is argument falls down is that Newcastle is potentially worth a load of money run well. then how come someone does not buy the club for £350m and sell it for £2billion. If he is a Football Finance Expert Ashley is the best ever Chairmen in the Premier League that bloke Knows nothing about accounts.

    • toonsteve

      Because its not worth 350 m at the moment as evidenced by the fact that noone in the world has offered that figure despite the club being supposedly for sale for over a year. Any buyer is not going to pay Ashley for value that they will need to create post any acquisition.

      • Monkseaton Magpies

        If Arsenal is worth £1.8m it must be as were not far behind them last season. Even for Ashley to get his money back it’s £280m so think £350m is cheap as chips.

        • Kenny

          Apart from Man U, Man C & Liverpool only clubs in the South will sell for over the £350m to £400m.

          • Monkseaton Magpies

            That could be part of the problem Deloitte and Touche always rate Newcastle as a do not buy as stadium full and very little way to make any money. A rich person doing it for the love of it is the only hope for most clubs.

          • TheFatController

            Mugpie, stay away from club finances posts, you’re not showing any understanding of the basics of financial investments.

          • Monkseaton Magpies

            I understand more than that Football so called expert he is hopeless. I get the accounts and know what is the truth.

          • TheFatController

            You can get all the accounts you like, you couldn’t even work out why if Arsenal is worth £1.8bn we weren’t worth more then £300m.

            If you knew basic investment you’d never struggle to work out why the valuations are what they are. You can’t get it, thus don’t think you know about the world of investment and business valuation.

          • grumpyoldmag

            He is a chartered accountant with 30 years experience in university teaching – are you?

          • Monkseaton Magpies

            I am an Accountant with thirty four years experience in industry not a University where it’s like he has never left school he can not even understand a set of accounts.

          • Chuck D

            That is frightening, are you the Saul Goodman of accountancy?

          • Will In Despair!

            This is by far the best and funniest yet, lol, lol, lol, lol, lol, id and lol, and so on, Mr Fantasist!!

            Just out of interest, Certified?

            34 years, unless your a 2nd rate, you would def have to be a fully paid up insured Member of? CIMA, AAT, ICAEW, ACCA or again maybe AAT, if your lucky? (public CIPFA), as the list goes on… Ah and not that I have anything against AAT, a decent enough platform!

            This again is simply just more embarrassing bull 💩💩💩 from yourself.

            Similar to when you start quoting such names as Deloitte & Touche; trying to belittle Newcastle and endlessly convince us fans that Newcastle are the lowest of the low, so get used to your ❤️ Mike and accept that this sweaty 0dious goit of a 💩 head who sadly owns and has asset stripped our club: NEVER!!!

            Your pretence is so laughable, very silly, bordering on childish, needs help?

            You think you know it all but NEVER BACK IT UP WITH ANYTHING EXCEPT YOUR BULL UTTER 💩💩💩

            Lol, yes you sure know everything; thanks to copy/paste your main job, snipping info into posts like a jobsbody tea boy, and each and everyone that reads your posts know its all 100% complete utter 💩💩💩 – and this will never change regardless of which Acc you use.

            Lol, Accountant, I’d eat reams of Costing data, if ever, Mr AAT man – if lucky!!

          • Monkseaton Magpies

            Worked in the City of London Leeds and Newcastle for many firms not that it matters this guy cannot read a set of Accounts. Was the Financial Controller for the North East and Wales for Thomsons the travel group and would not employ this bloke as a cleaner. Had my A levels at seventeen had my degree by twenty and this half wit is still at Uni twenty years later.

          • Guest 9

            And of course Thompson never reported any major accounting errors did they….?

          • Will In Despair!

            Lol, yet again still no proof, I’d really would love that Deloitte link…

            Fake news, lies and constant pro MA/SD propaganda 💩💩💩 is all you try to spread – thankfully like most, if not all, that read The Mag; I cannot and will never believe anything that you post!

            It’s so blatantly obvious and very crystal clear that you have an agenda or angle with/when trying to convince fans and people, of you utter bile pro PR MA garbage, and how that 0dious goit is the best thing since sliced bread and has been nothing but wonderful and positive for our club 🤮 🤮 🤮

            You always try and show MA as the Knight in shining armour, saving Newcastle United from a certain death or impending doom!

            In all honesty; how can you think that anyone, including likes of global business sector etc. will take him seriously, as he has proven himself to be a liar ‘he give false testimony under oath’ (allegedly) and to bear false witness is took very, very seriously from within some quarters, it’s all history for everyone to see.
            Yep, I’d hazard a guess that not many people will take him as serious now!

            He has blackened his name and all that he touches, knowing the full extent he’s capable of going to, who’d want to do business with that?!

            It makes one laugh so very much, knowing he’ll never be fully trusted again, NEVER and it’s all his very well deserved own fault 😁 😂 🤣 – well, except from all the sad apologists and your ilk kind…

          • musicman2018

            So it’s you who has been doing the Newcastle books always knew you worked for Ashley in some capacity

          • toonsteve

            I suspect you don t. The filed accounts only disclose what is legally required and they can get away with via their auditors. The NuFc accounts look light on related party disclosues. I suspect Grant Thornton may be keeping their heads down if their regulatory body starts to look at this closely.

          • MrShack66

            But surely we have as much potential as Citeh?

          • Big Al 1967

            Course we do Let us not forget the FCB blew off Mansour to go on the hoy who then went to buy Man City four months later

          • Big Al 1967

            Lets go back to when Ashley first put the club ‘up for sale’. A potential buyer had been found but as he in his infinite wisdom thought they had no interest in buying a football club, instead of attending a meeting with them, he chose to go on the hoy.
            Four months later that potential buyer went out and bought Manchester City!!

        • toonsteve

          Arsenal have a buyer. We don t. That is concrete evidence Arsenal is worth the price. The fact we have no buyer for 350 is concrete evidence we re not. Only person who thinks it is you and Ashley.

      • molend

        At the moment’ NUFC isn’t worth more than about 50 m if Rafa leaves. But an investor looks at what he can make. Even at 400 m. the club is a very good investment

        • True, buy at 350m, invest 200m in the team over 2 seasons and 50m in facilities and if we start finishing in the top 6 and playing in Europe will be worth close to 1bn in 3-4 years.

          • molend

            You can see it, I can see it, but can I hell get wor lass to part with her pension. It’s a b^gger, ma.

    • TheFatController

      Yet again apologists show they don’t understand the difference between a purchase price and investment money.

      It’s like talking to financial morons with apologists.

      Mansour bought city for £260m, he invested £1.5bn, it was last valued (when a percentage share was sold two years ago) at near £2bn.

      So, purchase price, investment, and current valuation are three separate things.

      Why do you apologists therefore always class purchase price as ‘investment’…? You might buy a car and invest in low profile tyres, as an example – the tyre investment makes the car worth more, aside from wear and tear depreciation.

      So, to your point here, you buy NUFC for its paper value and current projected earnings/losses, then you invest and reap the benefits/cover the losses of the new projected earnings resulting from your investment. These increased earnings make the value of the club higher – exactly what has happened at City and liverpool.

      If you don’t know the difference between purchase price, investment and revised valuation, maybe don’t comment on the club’s valuation and future worth?

    • KRS1

      He is an expert and you are a figure of fun and a laughing stock.

      • Monkseaton Magpies

        An expert who cannot read a set of accounts not that clever is he.

    • grumpyoldmag

      These are his credentials – -and yours are?

      I’m a chartered accountant who has been involved in financial education since 1989. I specialise in blending digital technology with teaching, have been fortunate enough to win the UK’s best finance lecturer award, as well as a number of local teaching and innovation prizes in both Liverpool and Manchester .

      • Dingus

        Haha. Beautiful response. Good for you.

        • Monkseaton Magpies

          Qualified or not he still cannot read a set of accounts.

          • TheFatController

            Look, mugpie must be bored now, he’s moved into lazy dull unprovoactive trolling…

          • Guest 9

            Interesting to see ghostrider on another forum in recent days spouting very similar messaging to ‘it’…

          • grumpyoldmag

            I asked you to demonstrate wha credentials you have to make such an accusation and accuse an award winning university lecturer of being a loon. As you can’t do that I’ll assume you’re just shouting “fake news” the usual retort of the out argued

          • Guest 9

            Don’t bother he won’t reply. He drops a statement or two and then never returns to answer or debate.

          • Monkseaton Magpies

            Thirty four years as a top Accountant working in the City of London and many other places. This bloke has never left school still at university. One thing is for sure he can not read a set of Accounts.

          • musicman2018

            I smell bullshit

    • Peter C

      Think it’s you who knows nothing, you are either delusional, or on Ashley’s payroll.

      • Kneebotherm8

        He’s both delusional and he’s on Ashleys payroll…..

        • musicman2018


  • Carverlier football

    I’d suggest the best example of how much the club potentially could’ve been worth is Tottenham. When Ashley took over there was very little between them – both underachieving big clubs with similar income, commercial revenue, wages, transfer spend, etc etc – but now there’s a massive difference between the clubs. And it’s not as if they’ve been pumping oil money in or paying (relatively) silly wages

    • Leazes.

      Well Tottnam…. they’re now in the £1Bn debt category and of course they’ll have to make do with third drawer players from now on if they follow the Ashley model…. somehow don’t think they will.

      • Carverlier football

        Can you imagine the media stink-up if they did? Bet their fans wouldn’t get branded unreasonable when they made their displeasure known…

        • Leazes.

          Duplicity of the press

    • Dont stop bobbi fleckman

      Very little between us and Tottenham? We were insolvent to the tune of £16m, Tottenham had paper assets of £50m, we were making losses of £33m, they were making profits of over £30m, we finished 13th they finished 5th.

  • Geordiegiants

    There we have it, another buyer trying to buy a premier league football club, and coming nowhere near ours. Either it’s not for sale or there is a big white Elephant in the room.

    • Sickandtired

      There is a big white elephant in the room, it’s Mike Ashley!

  • Jonas

    There’s a bloke with the wherewithal to buy a premier league club, tried to buy one that isn’t for sale, and there’s a club up for sale, according to the Ashley camp.
    except obviously it isnt/wasnt
    prove me wrong, prove your not a bunch of corrupt liars sullying football, or don’t.

  • Ashley didn’t show ambition when players and salaries were 10 times lower (6-7 years ago) and that’s his biggest failure. He had the money to compete with Barcelona and Real back then, but instead chose to appoint daft managers and import players from France for profit which worked at first but got us relegated two years later.
    Right now, I’m not blaiming him for not wanting to spend 50m and 150k a week on one player, but myself and all the fans will never forgive him for not showing ambition when it was “highly affordable”.

  • Dont stop bobbi fleckman

    A bit of a desperate shoehorning of an NUFC angle into what is a Liverpool story. Kieran Maguire valued us at £400-500m back in 20015