Ashley dips into personal fortune for £10M Newcastle signings

Mike Ashley has shown his commitment to Newcastle United by using £10 million of his personal fortune to secure two players.

Mike Ashley has shown his commitment to Newcastle United by using £10 million of his personal fortune to secure two players.

The Times says Ashley has spent another £10million on running costs at Newcastle United on top of the £248million he has already invested. The club's billionaire owner provided the funds, in the form of a loan, for Kevin Nolan's £4.5million transfer from Bolton Wanderers last month and Real Mallorca, who have been in dispute with Newcastle, will this week receive about £4million in compensation for Jonas Gutierrez.

While the club made a profit of £8million during the transfer window, Ashley has insisted that all incoming signings are paid for up front. The norm in football is for clubs to make and receive staged payments for players, but Newcastle's accounting methods ensure that they effectively own their assets in their entirety.

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