Mike Ashley is feeling the pressure from a number of directions.
Sports Direct shareholders particularly upset as the share price crashes ever further, in the past four months it has dropped by a third.
Whilst on Monday the share price fell by 10% in just one day.
For Mike Ashley, this represents a paper loss of some £470m on his SD shareholding.
Newcastle fans are keeping up their protests against Mike Ashley as they try to encourage him to sell the club.
These protests are also regularly using the Sports Direct angle as well, as this is seen as the NUFC owner’s Achilles heel. This Saturday sees Newcastle fan protests going ahead at both the flagship store in London in Oxford Street, as well as at the SD HQ in Shirebrook.
Sports Direct has also been the subject of recent bad reports about their online service, a Which survey rated only Homebase as worse than Mike Ashley’s company.
Parliamentary scrutiny of Mike Ashley has also been a factor with both Sports Direct and Newcastle United.
Chi Onwurah’s Newcastle Central constituency includes St James Park and she has continued to drive forward the scrutiny of how Ashley runs Newcastle United,
Chi has now published a reply she has received from the Secretary of State for Digital, Culture, Media and Sport (Jeremy Wright) to her letter regarding the ownership of Newcastle United Football Club.
From Chi Onwurah’s official site:
Newcastle Central MP Chi Onwurah has today received a response from the Secretary of State for Digital, Culture, Media and Sport to her letter regarding the ownership of Newcastle United Football Club.
Chi’s letter raised key questions about the financial transparency of NUFC following on from Chi’s petition on football club ownership and Mike Ashley’s letter to the Secretary of State defending his ownership of the club.
Chi welcomes the response of the Secretary of State and is considering what further action to take.
In particular she is pleased to see that Ernst and Young are carrying out an economic and social impact report for NUFC as well as the continuing work on football club asset sales.
“I welcome the Secretary of State’s letter which responds to several of my concerns regarding NUFC and club ownership more generally.”
“As the petition said, football is an integral part of our city’s social and cultural wellbeing and the concerns of fans need to be taken seriously. I’m pleased that the Secretary of State’s letter recognised this.”
“I would welcome comments from constituents as I prepare my response to the Government on these important issues which I still believe need action.”
A case of everybody doing their bit, you just don’t now what the tipping might be that could persuade Mike Ashley to call time on his disastrous reign at Newcastle United.