Magpie number one gets credit crunched

From today’s London Evening Standard, some chilling news for admirers of Newcastle owner Mike Ashley’s bank account.

“Mr Ashley is the fourth biggest loser from the crunch and has seen the value of his stake in Sports Direct, the retail giant he set up and floated on the London market, dive from £1.17 billion in February last year to just £168 million today. That is a loss of £1 billion.”