Premier League club Newcastle United are on the verge of having a new owner after reports suggesting that The Public Investment Fund (PIF) of Saudi Arabia submitted a £340 million ($421 million) for the Magpies. If sold, it would put an end to current owner Mike Ashley's numerous failed attempts to sell the club. As the Newcastle United takeover talks continue, let's take a look at 'Who is Mike Ashley?' and the Mike Ashley net worth figure.
Mike Ashley is a British billionaire retail entrepreneur and the owner of Premier League club Newcastle United. Currently, the Mike Ashley net worth figure stands at a whopping $2.5 billion. Ashley is the founder and CEO of Sports Direct, which is the UK's largest sporting goods retailer according to Forbes.com. The Sports Direct CEO became Newcastle United's owner in 2007, paying around £135 million ($167.1 million) to buy the club.
Mike Ashely also held shares in Scottish club Rangers. Ashley owned an 8.92% stake in Rangers International Football Club (RIFC), the parent company of Scottish football club Rangers. The Newcastle United owner's request to raise his shareholding in RIFC to 29.9%, due to him already owning a large amount of Newcastle United shares, which was seen as a conflict of interest. After a rift with the Rangers fanbase, Ashley sold his entire Rangers shareholding to Club 1872 and Julian Wolhardt in 2017.
Besides Sports Direct, Mike Ashley also owns a take in multiple companies. According to Forbes, he has acquired dozens of businesses, including boxing glove maker Everlast, Wimbledon supplier Lillywhites and department store House of Fraser. Ashley pocketed a massive $1.8 billion after Sports Direct went public in 2007, the same he acquired shares of Newcastle United. The Sports Direct CEO leads a luxurious life and is known to travel to work by helicopter.
Mike Ashley has enjoyed an uneasy relationship with the Newcastle United fans since buying the club in 2007. Ashley tried to sell Newcastle United twice and failed to do so, but he might get 'third-time lucky' with talks of The Public Investment Fund mooted to buy the club. The Newcastle takeover is considered to be 'very close' according to reports, with the PIF having launched a £340 million ($421 million) bid according to The Telegraph.
Disclaimer: The above Mike Ashley net worth information is sourced from various websites and media reports. The website does not guarantee a 100% accuracy of the figures.