Mike Ashley exploits government virus clause to delay publishing Newcastle United accounts
The Newcastle United accounts for last (2018/19) season were due to be filed by 31 March 2020.
These accounts taking us up to 30 June 2019 and allowing us to see what Mike Ashley had been up to in that time.
However, there is news on Wednesday morning that we are unlikely to see these latest NUFC accounts any time soon.
A great spot from Kieran Maguire, who lectures in football finance at Liverpool University and also has his own Price Of Football website.
He has flagged up the fact that Mike Ashley has exploited a clause announced by the chancellor to help companies dealing with the impact of the virus situation.
Government announcement from the Chancellor – Wednesday 25 March 2020:
‘From today (25 March 2020), businesses will be able to apply for a 3-month extension for filing their accounts.
This joint initiative between the government and Companies House will mean businesses can prioritise managing the impact of Coronavirus.’
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 numerous clubs have already filed and made public their accounts for the 2018/19 season, so no special reason to justify Mike Ashley delaying Newcastle’s even further.
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 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.’
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