Monday, 16 October 2017

Mike Ashley puts Newcastle United up for sale



Mike Ashley has put Newcastle United up for sale, bowing to pressure from many fans who had demanded greater investment in the Premier League club.
 
 
The company the Sports Direct tycoon set up to take control ten years ago, St James Holdings, said the decision was taken to give the team a greater opportunity of achieving its dreams.
 
 
Its statement said new owners would also be given help to invest in the side in the short term, should they need it, through the option of "deferring substantial payments".


Mr Ashley, who has faced protests from fans over the level of investment in the side since he took over, has long argued that funds were limited because his cash is tied up in shares of Sports Direct.


The self-styled power drinker has a majority shareholding of 55% in the retailer making him a billionaire - on paper at least.




SKY    News.