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Mike Ashley blows £3.3m on private jets and rents

Laura Onita
·1-min read
Mike Ashley
Mike Ashley

Mike Ashley splashed out £3.3m on private use of his company jet and helicopter, football tickets for his family and renting property in London and Miami, documents show.

Fresh accounts for Mash Holdings, the business the retail tycoon’s investments in Sports Direct and Newcastle United Football Club, revealed the tycoon paid it £1.4m for property he rents from the company in the capital and Florida. 

The use of Mash's jet and helicopter cost him £1.9m in the year to April 28, 2019 - down from £2.1m the year before. Mash said this was charged at commercial rates.

Meanwhile, matchday hospitality came in at £104,000 for family members.

Profits at Mash Holdings - which includes Newcastle United, Sports Direct and Mr Ashley’s stakes in other retailers such as Jack Wills and Agent Provocateur - rose to £185m from £20m the year before, with revenues up 8.5pc to £3.8bn. 

The football club generated £181m of total revenue, up from £150m last year.

Mr Ashley has been trying to offload it for years, and hired lawyers to take action against the Premier League after a proposed takeover by a Saudi Arabian-led consortium collapsed this month. 

Although most of his brands' stores have now reopened, he warned that a second wave of Covid could force new closures. 

Mash also said a disorderly departure from the European Union could wreak havoc on its retail operations. Online orders from the Continent are shipped from its warehouse in Shirebrook. The firm also employs many staff from Eastern Europe, who could decide to leave the UK. 

No dividends were paid and Mr Ashley, who has a 62pc stake in Frasers Group and is the sole director, was not paid a salary.