Back of the Net!

The recent uproar in the UK following the near collapse of HBOS (Halifax Bank of Scotland) and the behaviour of certain shareholders has served to underline the virtually unbreakable relationship between football and business.

Newcastle United owner Mike Ashley has reportedly lost £300 million betting on HBOS share prices - more than likely contributing to the worrying state of the European economy and probably accelerating the sale of his club.

It’s the dark side of success, and what choice does Ashley now have other than to cut his losses?

A self-made billionaire, the pilloried owner of Newcastle United Football Club can easily afford one such disaster.

But a local problem at his overrated football club and such a big loss in the City must leave him wondering what can go wrong next?

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