By Sean Fisher

6th Jul, 2023 | 1:09pm

Revealed: Mike Ashley lands stunning £195m Newcastle United windfall

Mike Ashley made a profit of £196million from the sale of Newcastle United in 2021, Football Insider can reveal.

The ex-Magpies owner bought 100 per cent of Newcastle’s shares in 2007 from Freddy Shephard and Sir John Hall for a combined price of around £134million.

The 58-year-old quickly became a villainous figure around Tyneside for his running of the club, with Ashley himself admitting that he did not perform due diligence before completing the takeover.

After 14 years of ownership, Ashley sold Newcastle to a consortium consisting of PCP Capital Partners, Reuben Brothers, and the Saudi Arabian PIF in 2021.

Ashley’s company, MASH Holdings, released their 2021/22 finances on July 4 via a Companies House submission – the company’s first published accounts since the takeover was completed.

The accounts showed that the total price of Newcastle United’s sale was £305million, with Ashley himself pocketing a ‘profit on disposal’ of £195.7million.

It also revealed that legal fees paid by Ashley for the takeover ramped up to £1.5million.

Newcastle United saw their club turnover grow £39.8million following the sale of the club in 2021.

The Magpies posted a turnover of £140.2m in their 2020/21 accounts, which grew to £180million in 2021/22 after nine months of investment from the club’s new owners.

Newcastle’s revenues are expected to increase further in their 2022/23 accounts after the club’s improved commercial activity and on-pitch success.

The North East club have boosted their commercial revenue through sponsorship deals with Sela and Noon, while a return to the Champions League is also set to bring significant financial benefits.

Football Insider analysis expects Newcastle to earn a minimum of £27million from Champions League qualification.

In other news, Clubs lining up to sign senior Newcastle United star this summer