How much Mike Ashley sold Newcastle United for amid Sheffield Wednesday and Derby County takeover talk | OneFootball

Divisive business figure Ashley is in the mix for two EFL clubs, but how much did he manage to claw back for his beloved Magpies?

Whenever an EFL club is up for investment or a full sale, there always seems to be one common denominator and name that floats around - and that is Mike Ashley.

Ashley of course is best known for his time as the owner of Newcastle United, taking over his boyhood club in 2007 after generating his wealth through his Sports Direct brand, but it's fair to say that many Magpies fans don't have the best of opinions of the businessman.

The 61-year-old's time at St. James' Park lasted 14 tumultuous years, which saw two relegations suffered from the Premier League, before he finally relinquished control in 2021 - but he's been lurking around football ever since waiting for a new investment opportunity.

Ashley did purchase the Coventry Building Society Arena - home of Coventry City - in 2022, and rented it back to the club for the next three years, before a deal was made in August 2025 for the Sky Blues to buy the stadium back.

There was never any chance of Ashley taking over City, but he has been linked with two football clubs in recent weeks.

Sheffield Wednesday - currently in adminstration - are of interest to Ashley, but his initial bid of £20 million was rejected by Begbies Traynor, with the firm wanting more towards the £30 million region and perhaps north of that if a bidding war is engaged.

The Owls' Championship rivals Derby County are also said to be in Ashley's sights, with Alan Nixon claiming that he is 'lurking' in the shadows of interest from the likes of John Textor and James Bord when it comes to the Rams, with current owner David Clowes open to bringing in an investor or sanctioning a full takeover of the Pride Park outfit.

How much Mike Ashley sold Newcastle United for - he made a profit

As divisive a character Ashley is, especially among fans of Newcastle for some of his actions as their owner, there is no denying that he's a good businessman, and that is why he is a billionaire.

In 2007, he purchased Freddy Shepherd's 28 per cent stake in the north east club for £37.6 million, as well as Sir John Hall's 41.6 per cent shareholding for £55.3 million prior to that, with the remaining part of the club being acquired in July of that year to take the cost of United to £134 million.

He put the club up for sale though just over a year after his takeover amid strong fan protests, but his exit never happened, and it took another 13 years for a new set of custodians to enter St. James' Park.

A deal was agreed in 2020 to sell Newcastle to Saudi Arabia's Public Investment Fund, in a consortium that also included the Reuben Brothers and PCP Capital Partners, for £300 million, but it ended up being delayed for well over a year before being completed fully in October 2021, putting an end to Ashley's time at Newcastle.

That figure was more than double the amount that Ashley purchased the club for in the first place, not accounting for inflation, and whilst it's not known how much of his own money was pumped in during the 14 years at the club, the Walsall-born tycoon did well out of the deal to rid himself of Newcastle, no matter what way you look at it.

Mike Ashley has the wealth to be a good owner for Sheffield Wednesday or Derby County - if that's what he wants

With a net worth of $5.5 billion, according to Forbes' latest calculations, Ashley is an incredibly wealthy man thanks to his business ventures - and that includes football too.

His speciality may be the fashion sector with his Sports Direct and Frasers brands, but there's no denying that he could be a steady hand for a Sheffield Wednesday or a Derby, without splashing too much cash at either club based on what happened with Newcastle.

There were big expectations on Newcastle when he arrived in 2007 and an expectation that he'd spent a lot of money - that never arrived and fans quickly turned, but there is an argument to be made that he under-invested over the years in comparison to the size of the club, and that led to two relegations from the top flight.

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Expectations would be much different at a Sheffield Wednesday or a Derby though. For the former, they look to be heading to League One next season, and they need a saviour who would be willing to invest in the squad and probably Hillsborough Stadium too - and Ashley has purchased or tried to buy numerous arenas in the past.

Ashley's low-ball offer is a sign that he perhaps wants to get the club on the cheap and may not want to become embroiled in a tug of war for the club, but he's going to have to up his bid if he's serious.

As for Derby, local fan and businessman David Clowes has invested money since he saved the club from their own administration saga in 2022, but he's on the lookout for a new investor who has deeper pockets than himself, and whilst Ashley has cash, he may not want to be throwing millions and millions at a club - even though he has it.

If stability is what is needed, then Ashley would be an ideal fit - anything more than that would certainly be a big ask.