Football League World logo menu Why Mike Ashley sold Newcastle United while rumors of a Sheffield Wednesday takeover swirl The link to the thread was copied to the clipboard. Thirteen hours ago by James Soutar Mike Ashley, the former owner of Newcastle United, is a strong contender to take over Sheffield Wednesday. FLW examines the reasons for his sale of the Magpies. Ashley, 61, is reportedly ready to make a £10 million opening offer for the South Yorkshire team, according to a story from The Guardian. In his November 5th statement to Wednesdayites, Kris Wigfield, one of the joint administrators, hinted that he had already met Begbies Traynor’s obligation to show access to £50 million in proof of funds. This wouldn’t have been a problem for Ashley, who sold Newcastle to Saudi Arabia’s Public Investment Fund for £300 million in 2021. However, considering how difficult his time in the North East was, there might be some reservations about his possible ambitions for the Owls. After all, four years before it really happened, in 2017, he declared his intention to sell the Premier League team.
The reasons behind Mike Ashley selling Newcastle United
The final sale between Ashley and the Saudis after 14 years in charge undoubtedly meant much more than just a change of control. His choice to sell the team to the Saudi-backed group ended one of the most contentious periods in English football history, which featured two Premier League relegations. The fact that Ashley’s reign was characterized by what many saw as treating Newcastle purely as a company rather than a football club is where the possible Wednesday doubts might lie. Ashley had spent years trying to run the team using the same ideas that had made Sports Direct so successful. In 2007, he paid £134 million for controlling shares in the Magpies. For further background, he became a billionaire by founding the retail business in 1982. In essence, he was extremely motivated to maximize his financial gain. Although he may have been drawn to St James’ Park by the club’s commercial potential, Ashley claimed that his initial goals were to have “fun” and win trophies. Ashley, who rarely attended home games, also found the situation more unpleasant due to the Magpies’ unrelenting boycotts and demonstrations. For example, several Newcastle United supporters arrived late to a game in 2018 to commemorate Ashley’s 11th year as the club’s owner, claiming it would “bring global attention to the repulsive way Ashley runs” the team.
What potentially awaits at Hillsborough if Mike Ashley completes Sheffield Wednesday takeover
Football League World logo menu Why Mike Ashley sold Newcastle United while rumors of a Sheffield Wednesday takeover swirl The link to the thread was copied to the clipboard. Thirteen hours ago by James Soutar Mike Ashley, the former owner of Newcastle United, is a strong contender to take over Sheffield Wednesday. FLW examines the reasons for his sale of the Magpies. Ashley, 61, is reportedly ready to make a £10 million opening offer for the South Yorkshire team, according to a story from The Guardian. In his November 5th statement to Wednesdayites, Kris Wigfield, one of the joint administrators, hinted that he had already met Begbies Traynor’s obligation to show access to £50 million in proof of funds. This wouldn’t have been a problem for Ashley, who sold Newcastle to Saudi Arabia’s Public Investment Fund for £300 million in 2021. However, considering how difficult his time in the North East was, there might be some reservations about his possible ambitions for the Owls. After all, four years before it really happened, in 2017, he declared his intention to sell the Premier League team. Mike Ashley’s motivations for selling Newcastle United Mike Ashley FILE PHOTO: Oxford United vs. Newcastle United, FA Cup Fourth Round Replay, Kassam Stadium, Oxford, Britain, February 4, 2020 Newcastle United supporters pointing a flag at Mike Ashley, the team’s owner David Klein/REUTERS/File Image The final sale between Ashley and the Saudis after 14 years in charge undoubtedly meant much more than just a change of control. His choice to sell the team to the Saudi-backed group ended one of the most contentious periods in English football history, which featured two Premier League relegations. The fact that Ashley’s reign was characterized by what many saw as treating Newcastle purely as a company rather than a football club is where the possible Wednesday doubts might lie. Ashley had spent years trying to run the team using the same ideas that had made Sports Direct so successful. In 2007, he paid £134 million for controlling shares in the Magpies. For further background, he became a billionaire by founding the retail business in 1982. In essence, he was extremely motivated to maximize his financial gain. Although he may have been drawn to St James’ Park by the club’s commercial potential, Ashley claimed that his initial goals were to have “fun” and win trophies. Ashley, who rarely attended home games, also found the situation more unpleasant due to the Magpies’ unrelenting boycotts and demonstrations. For example, several Newcastle United supporters arrived late to a game in 2018 to commemorate Ashley’s 11th year as the club’s owner, claiming it would “bring global attention to the repulsive way Ashley runs” the team. What might happen at Hillsborough if Mike Ashley completes the acquisition of Sheffield Wednesday Sheffield Wednesday, Hillsborough Ashley would most likely put obtaining financial stability ahead of any immediate sporting success if he were successful in purchasing Wednesday. It is important to remember that throughout his ownership, Newcastle qualified for European football just once and finished in the top ten of the Premier League three times in fourteen seasons. Their supporters also became weary with the team’s mid-table result. However, Wednesday is still a long way from reaching that point. In the end, the Owls want an owner who has the funds and expertise necessary to manage a football team. The owner’s obligation to fulfill the supporters’ aspirations is likely a minor factor at this time. Ashley’s transfer strategy at Newcastle was to acquire young players and resell them for a profit, according to Sky Sports. On that point, he wouldn’t annoy any supporters because Wednesday won’t be able to pay anyone until 2027. Although it’s unclear if he will truly take over as the club’s new owner, given what has happened in the past, the problems that forced him to leave Newcastle are unlikely to recur in Sheffield.
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