Mike Ashley failed to get Newcastle back to the dreamy 90s but played safe financially

Last week’s €354 million takeover by Saudi-owned PIF of Newcastle United led to big celebrations across the whole Newcastle community, who feel that British billionaire and now former owner Mike Ashley has held them captive for more than a decade. 

A dive into Newcastle’s financials reveals Ashley has prioritised keeping the club a healthy and sustainable business rather than following the trend of recent years trend for spending sprees on new players and wage levels that are higher than ever. 

But the other side of the story shows that the potential of the club’s extremely loyal fans and supporting community has not been fulfilled, as evidenced by the low level of commercial revenue compared to the development at other Premier League sides.