You can unsubscribe at any time.Thank you for subscribingWe have more newslettersShow meSee ourprivacy noticeHowever, a closer look at the accounts reveals that United are as vulnerable as many other clubs and reliant on both Premier League status and the interest free “loans” of Sports Direct magnate Mike Ashley.The Buckinghamshire tycoon, who has been in Miami since the UK lockdown started, has played for credit when carrying out rare interviews with suggestions from some pundits in the south suggesting Newcastle would have gone bust without Ashley.The Mike Ashley factorAshley is still owed 111million in an interest free loan according to the latest set of accounts.Some supporters will argue how he can lend money to a club he already owns when surely the buck stops with him?At the Chronicle, we have offered Ashley the chance on many occasions to explain his logic, but each cheap jerseys time the request is turned down, something which pours cold water on social media theories that the local Press are in “his pocket”.The reality is there are a lot of tough questions Ashley has swerved in his 13 years in charge.It is in the accounts that we start to see what would be buyers such as Amanda Staveley, the Reuben brothers and Saudi Arabia are dealing with.Is Newcastle, a club that now faces months without gate revenue and owes TV money to broadcasters, still worth 300million?And we all assuming that the price tag on United includes the “loans” that Ashley has ploughed in over the years and that he wants the money back?After being up for sale since 2009, why is the Sports Direct magnate still here?The way the accounts are presented suggests without the loans Newcastle would be in the red.United have put Lee Charnley up to the local Press to talk through the accounts in recent years but that hasn happened so far, possibly due to the fact we still in partial lockdown.Charnley would have undoubtedly faced questions on the takeover too, something that really needs to be addressed now in some way after two months of silence from St James Park.NEWCASTLE UPON TYNE, ENGLAND AUGUST 11: Matt Ritchie of Newcastle United reacts during the Premier League match between Newcastle United and Arsenal FC at St. James Park on August 11, 2019 in Newcastle upon Tyne, United Kingdom. (Photo by Robbie Jay Barratt AMA/Getty Images)Staying in the Premier League is the key to United overall health under AshleyThe next set of accounts will include more TV revenue and merit money after what looks to be another season of survival in the top flight.In previous financial figures drops in revenues were there because the club underlined the drop down to the Championship in 2016/17.Being in the Premier League which has been Ashley only real ambition for most of the last 13 years is again written into the club blueprint in the “principal risks and uncertainties” section of the accounts.When it comes to United financial survival it reads: “Not being in membership of the Premier League for any prolonged period due to the impact on revenue streams”..
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