By Russell Edge

17th Oct, 2017 | 4:43pm

Study reveals surprise Newcastle valuation after decade under Mike Ashley

By Russell Edge

The estimated value of Newcastle United has doubled under the reign of Mike Ashley, according to a study.

The Sports Direct supremo purchased the club for £134.4million back in 2007 but a study outlined on the BBC Sport website has revealed the club has over doubled in value, which may come as a surprise considering their fluctuating recent history.

Dan Plumley, a senior lecturer in sport business management at Sheffield Hallam University, says that the club posed an “attractive proposition” and was worth “in the region of £300m”.

“Based on what we can measure – plus more intangible things – and on market trends, it is realistic to estimate £300m at this point in time,” he told BBC Sport.

With Ashley having been at the helm of the north east club for a decade, the Magpies have seen themselves suffer two relegations, the most recent two seasons ago, and go through a whole host of controversy, including the renaming of St James’ Park to the Sports Direct Arena.

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However, Plumley states that the fact that Newcastle own their stadium, now back under its original title, and their training ground is one of numerous assets which boost the value of the club.

He states that the monetary assets – match-day income, sponsorship deals and broadcasting revenue – coupled with the “intangible” qualities – the fan base, the current squad and having Rafael Benitez as manager – help the club represent themselves as a worthwhile investment to potential parties.

In other Newcastle United news, Alan Pardew has claimed that this current player was signed ahead of a man now worth £70million.

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