Mike Ashley announces personal £195.7m Newcastle United profit – Via new accounts
News just in of the latest Mike Ashley MASH Holdings accounts.
These are for the financial year up to 24 April 2022.
MASH Holdings is owned 100 per cent by Mike Ashley and is basically the shares he owns in all of his business interests, which included the 100% ownership of Newcastle.
Of course, that 100% ownership of Newcastle United was transferred to the Saudi Arabia PIF led consortium on 7 October 2021.
These new MASH Holdings accounts went public on the official Companies House website on 4 July 2023 but are for the year up to 24 April 2022 which includes when ownership of Newcastle United changed hands.
The new accounts confirm that Mike Ashley sold Newcastle United for £305m, which is the figure that has already been repeatedly put on the deal ever since.
More interestingly, the MASH Holdings accounts also state that for Mike Ashley ‘A profit on disposal of £195.7m has been recognised in the current year…’ from the sale of Newcastle United.
“On October 7, 2021, the group disposed of the entire share capital of Newcastle United Football Club Limited and its subsidiaries for a total consideration of £305m…
“A profit on disposal of £195.7m has been recognised in the current year after taking into account the net assets disposed of (£107.8m) and legal fees connected with the sale (£1.5m).
“Included in these financial statements are losses of £13.2m arising from the group’s interest in Newcastle United Football Club up to the date of its disposal.”
Only two days now until it will be exactly 21 months since Newcastle United fans saw the back of Mike Ashley after 14+ years of nonsense and misery.
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