Couldn't afford Grenier? - Sports Direct record massive profit

Newcastle United fans may be upset with Mike Ashley at the moment - but he might be running all the way to the bank after sound business in the last quarter.

It has been a tough 2014 for Newcastle United owner Mike Ashley.

Her has seen Joe Kinnear resign from his position at the club, he sold Yohan Cabaye to Paris Saint-Germain and has seen newspapers allege that he could be about to sack Alan Pardew if he does not win this weekend.

He has even seen sports entertainer and WWE owner Vince McMahon linked with his job - believe that if you will.

But results on the pitch have to be the most worrying.

Newcastle have not scored a goal since the 18th January - and have conceded 10 in the four game since.

The game with Aston Villa this weekend is therefore of vital performance.

The team are struggling massively to adapt to the loss of Cabaye - after Ashley decided the £19 million offered by PSG was too good to refuse.

This week Cabaye scored his first goal for PSG in the Champions League tie against Bayer Leverkusen - so everything is going well for him as his former club toil.

Newcastle fans have never been keen on Ashley - but recent events have seen the fans confidence in him plummet to new depths.

But Ashley probably won’t mind - as this has been a very good weekend for him on a personal business level.

His primary business, sporting goods retailer Sports Direct, had a bumper Christmas - making a profit of £280.7 million in the last quarter, up 14.6%.

That saw the share prices in Sports Direct go up by 5.3% yesterday and employees are now set for bumper bonuses as the group in total, including fashion brands such as USC and Republic, recorded a 52.5% increase in sales.

All good for Ashley then - Newcastle fans will wonder why they couldn’t have bumped up their offer for Lyon midfielder Clement Grenier by a couple of million even more now.

image: © stephendgardner

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