The move to St James' Park has, so far, brought only injury woe to Michael Owen and now new owner Mike Ashley is having some trouble of his own, as shares in his Sports Direct company dropped by a quarter, wiping £175million off his fortune.

Profits for the year to May fell by £36million to £60million with the dismal weather badly affecting sales.

Sports Direct chief executive, Dave Forsey, says: "The past three months have been exceptionally difficult too, with the unprecedented weather conditions having an immediate impact on sales".

Ashley still has a 57 per cent stake in the company, which made him a cool £930million when he floated it on the stock market.

Now, the tycoon will be hoping that the weather starts to improve and that Newcastle United finally start to living up to their billing as being a "big club". While Michael Owen will be praying that he spends more time on the pitch than on the physio's table this season.

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