Mike Ashley ultimately made a profit of more than £195m from the sale of Newcastle United.
That is according to the latest annual report and financial statements filed by Mash Holdings, Ashley's private investment vehicle, for the year ending April 24, 2022. The accounts confirm, as widely reported, that Ashley sold the club for £305m in October, 2021 and, also, that the former owner made a substantial profit from the sale to a consortium made up of Saudi Arabia's Public Investment Fund (PIF), Amanda Staveley and Jamie Reuben.
"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," an excerpt from the strategic report read. "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).
