Kieran Maguire: 'Major change' may be coming at Newcastle as Ashley makes his move
Mike Ashley could possibly be thinking of stepping away from all of his business ventures – including Newcastle United.
That is according to finance boffin Kieran Maguire, speaking exclusively to Football Insider about the latest news emerging from Ashley’s business empire.
The 56-year-old retail tycoon has, as per the BBC on 5th August, stepped down from his role as head of Frasers Group.
He is set to hand control of the conglomerate, which owns House of Fraser and Sports Direct among others, to son-in-law Michael Murray.
Maguire suggested that Ashley’s decision to dial back his involvement in his investment portfolio could mean he has similar plans at Newcastle.
“It’s his son in law who is taking over,” he told Football Insider correspondent Adam Williams.
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“The only issue would be if his son in law is a mad Newcastle fan and wants to have a good go at running the club himself.
“There is no indication that this is the case. So I can’t see many implications for Ashley on the whole.
“Unless, however, this is an indication that he might want to step away from the day-to-day grind of all of his businesses, including Newcastle United.
“That would be the only potential positive you can draw from this in terms of major changes at Newcastle.”
Ashley has been attempting to sell Newcastle for well over a decade and was nearly successful last summer.
But he is now fighting two concurrent legal cases after the PCP Capital Partners’ takeover collapse.