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Lee Ryder

Mike Ashley's MASH Holdings operating profits hit £178m

Mike Ashley saw his MASH Holdings company make operating profits of £178million.

In the annual financial figures, which have now gone public today, it was revealed the company also had £488million of cash in the accounts.

Although United, who are owned by MASH Holdings, only account for just 5% of his company.

United's accounts for 2019 reveal that Mike Ashley pumped in another interest-free loan after the club's second year following promotion.

The latest financial figures show that Ashley is "owed" £111million with the amount dropping down from £144million in the previous year.

Fans will argue that any debt should be absorbed by Ashley and not the club but the accounts read: "Mr MJW Ashley and companies under his control continued to provide loan facilities to the group during the year.

"The total balance outstanding at 30 June 2019 was £111million (2018, £144million).

"The maximum amount outstanding during the year was £144million (2018, £154million).

"No interest was payable on for either the current or prior year."

Newcastle have so far splashed out £35million on transfer fees for Callum Wilson and Jamal Lewis plus agent fees.

The free transfer signings of Ryan Fraser, Jeff Hendrick and Mark Gillespie also resulted in agent fees and signing on fees for the players, which will be reflected in next year's accounts.

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