Newcastle United owner Mike Ashley is seeing his valuation of the club dramatically drop.
That's according to football finance expert Kieran Maguire, whose advisory work on valuations for parties interested in buying clubs puts him in the unique position of speaking from experience.
From £350m, it's now suggested Ashley will have to accept £240-250m to sell.
Maguire told ChronicleLive: “Mike Ashley will have to accept that the value of the asset has gone down. The time for him to sell at a big profit has probably passed, either through his decision to drive a hard bargain or a lack of viable buyers.
“It's obvious. We have a few listed clubs where we can actually see the difference: Juve and Manchester United. Now Manchester United's share price has fallen by a quarter. If they're worth 25% less than they were at the start of January, I can't see how Newcastle United are any different."
And on the club's new valuation, he added: “It's a pride issue for Mike Ashley.
“He wants his £111million back in terms of loans which I think is fair enough. But then he paid around £130, £140million for his shares (£134million). If he gets all of that back, he will have been lucky.
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