Mike Ashley's Newcastle United 'profit' revealed

The "profit" Mike Ashley made from the sale of Newcastle United has been revealed.

Ashley's MASH Holdings have submitted their accounts for 2021/22 – and they have been published online by Companies House.

The Sports Director founder sold the club to a consortium led by financier Amanda Staveley in October 2021 for £305million.

And the accounts revealed a "profit on disposal" of £195.7million.

The accounts read: "On 7 October 2021 the Group disposed of the entire share capital of Newcastle United Football Club Limited and its subsidiaries for a total consideration of £305million.

"A profit on disposal of £195.7million has been recognised in the current year after taking into account the net assets disposed of (£107.8million) and legal fees connected with the same (£1.5million)."

Ashley bought the club from the for £134million in 2007.

Newcastle were relegated twice, and qualified for Europe once, during Ashley's 14 years as owner.

United are now 80%-owner by Saudi Arabia's Public Investment Fund. Staveley, through PCP Capital Partners, and Jamie Reuben, through RB Sports & Media, both own 10% stakes.