Newsletter

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

News

Even less reason for Mike Ashley NUFC furlough – What Premier League clubs are due/owe in transfer fees

5 months ago
Share

Eight days ago, Kieran Maguire flagged up the fact that Mike Ashley had exploited a clause announced by the chancellor to help companies dealing with the impact of the virus situation, Maguire lectures in football finance at Liverpool University and also has his own Price Of Football website.

The Newcastle United accounts for last (2018/19) season were due to be filed by 31 March 2020, those accounts taking us up to 30 June 2019 and allowing us to see what Mike Ashley had been up to in that time.

However, Mike Ashley has pushed back when he has to make public the NUFC 2018/19 accounts by three months (see below).

Now on Thursday morning, Kieran Maguire has produced a new report comparing Mike Ashley and Newcastle United with other Premier League clubs.

His study is showing what Premier League clubs are owed and due in terms of transfer fee instalments still to come, using the latest available figures for the 20 clubs who were in the Premier League last (2018/19) season.

Kieran Maguire says that those figures show the 20 clubs collectively owing a total of over £1.6billion in outstanding transfer fee instalments and owed £904m, meaning a net amount owed of around £700m between those 20 clubs.

This is the table he has produced showing how each club looks, the net amounts each owes, or is due:

As you can see, when it comes to net transfer fees owed or due, Manchester United are worst off, the difference between what they owe to other clubs and what is due to them, is £169.3m.

Whilst at the other end of things, Newcastle are the very best off, other clubs owing NUFC £15.6m in terms of net transfer fee instalments still to come.

This is yet another factor making it even more disgraceful, how Mike Ashley has refused to take responsibility for paying the staff at NUFC, exploiting the furlough scheme and instead making the government/taxpayers financially support Newcastle United staff (who aren’t players or senior coaching team).

(Kieran Maguire has regularly written in the past about Newcastle United and Mike Ashley, as well as of course, the situations at many other clubs and is also a Brighton fan for his sins, he once famously said: ‘If Mike Ashley wanted to buy the club I supported I’d be soiling myself.’)

From article on The Mag – 1 April 2020:

The Companies House records showing that Mike Ashley has pushed back the need to file those 2018/19 Newcastle United accounts.

Ashley usually submits the accounts late anyway but this gives him license to do it even later this year. With this change it should be now by 30 June 2020 instead of the original 31 March 2020 (Crystal Palace have done the same) but from past experience you can add at least a month or two onto that where NUFC are concerned under Ashley.

Mike Ashley has been ‘enjoying’ a veritable tsunami of criticism due to his action during this virus crisis, both with regard to his retail empire and Newcastle United.

So it is very difficult to see any other reason for this delay in filing the Newcastle United accounts, than the fact it will make public things in the accounts that will add to that criticism coming his way.

Bear in mind that almost all Premier League clubs had already filed and made public their accounts anyway for the 2018/19 season, so no special reason to justify Mike Ashley delaying Newcastle’s even further.

Share

If you would like to feature on The Mag, submit your article to [email protected]

Have your say

© 2020 The Mag. All Rights Reserved. Design & Build by Mediaworks