McClaren's Failure Costs The Country Billions!

Last updated : 23 November 2007 By Footy Mad - Editor

Toon boss Mike Ashley, I'm sure, would like to see McClaren suffer the consequences rather than get a £2.5m pay off.

Sports Direct shares dived following a profits warning after England's defeat against Croatia.

And the troubled Sports World and Lillywhites owner said the failure of England to qualify for next summer's European Championships will devastate sales of replica football shirts.

Shares in Sports Direct tumbled 18p to an all-time low of 941⁄2p. The 16% fall wiped £110 million off the value of the company and gave majority shareholder Mike Ashley a paper loss of £74 million.

Official kit maker Umbro also predicted a dismal buildup to Euro 2008, particularly as it is due to launch a new red away strip for the England team ahead of the tournament.

Without England in the competition, demand among fans is expected to be minimal.