Newcastle United owner Mike Ashley hoping for a World Cup boost
Many soccer club owners fear the advent of the Fifa World Cup, well aware that it cuts into their players' summer breaks and offers an increased opportunity for injury. But for Mike Ashley, the owner of Newcastle United, the tournament is vital to a successful 2010.
Ashley's retail company, Sports Direct, has upped its earning forecast for next year to £155 million, citing the increased sales of team shirts expected around the World Cup, to be held in South Africa next summer. The company would benefit immensely from such a boost - while its underlying pre-tax profits rose by 38.8 per cent in the 26 weeks to October 25th, currency exchange movements contributed to its reported pre-tax profits falling from £97.7 million to £57.8 million.
Whether increased profits would be ploughed back into Newcastle remain to be seen. Earlier this month, it was reported that Ashley has put the club back on the market, instructing his representatives to begin negotiations with interested parties, including an American group. The Newcastle United Supporters Trust's campaign to raise the money for a fan buyout of the club continues.
Popular articles
HP presents the San Francisco 49ers - 22 July 2010, Deals
IMG to drive Ireland’s golfing push - 22 July 2010, Deals
IMG takes golf to the skies - 20 July 2010, Deals
Cash boost for Everton as Liverpool sponsor signs with rivals - 27 July 2010, Deals
Colt McCoy signs endorsement deal with Russell Athletic - 19 July 2010, Deals

