Sports Direct shareholders voted earlier this month for a bonus plan that will give £200m worth of shares to 3,000 permanent staff, including Newcastle United owner Mr Ashley, if earnings double by 2019.
Although shareholders voted the scheme through, it ran into trouble almost immediately when leading investors who had opposed the deal began plotting a revolt at the firm's annual general meeting in September.
Billionaire Mr Ashley receives no salary from the group and now does not expect “any other share-based incentive scheme to be proposed to shareholders in relation to his role as an executive director of Sports Direct”, the company said.
OLDHAM ATH 2 NEWCASTLE UTD 1
Siem de Jong's Toon career got off to a good start, scoring after only 14 minutes, but it was not enough to keep Newcastle United from slipping to a 2-1 defeat at Oldham Athletic in this pre-season fixture.
Second-half goals from Timothee Dieng and William Gros saw Oldham come from behind to ensure that Newcastle's pre-season preparations got under way in disappointing fashion.
New signings Jack Colback, Ayoze Perez and De Jong all featured.
Former Ajax skipper De Jong struck a free-kick into the Oldham wall, but the Netherlands international pounced on the rebound to lash home an effort from outside the area.
De Jong almost had a second when he came close to connecting with Rolando Aarons' delivery.
Perez was one of a host of substitutes introduced early in the second half, shortly before the hosts levelled.
Dieng headed home a David Mellor corner past Jak Alnwick.
Substitute Gros then got in on the act as his shot from the edge of the area slipped through Alnwick's grasp with 12 minutes remaining to hand the League One side victory.
Newcastle United starting XI: Alnwick; Anita, S.Taylor, Yanga-Mbiwa, Dummett; Gouffran, Abeid, Colback, Aarons; de Jong (c); Armstrong.
Subs: Woodman, Haïdara, Streete, Satka, Bigirimana, Sa.Ameobi, Vuckic, Perez.
NEWCASTLE UNITED PRE-SEASON FRIENDLIES
15 July Oldham (A)
22 July Sydney FC (Dunedin – New Zealand)
26 July Wellington Phoenix (Wellington – New Zealand)
30 July Sheffield Wednesday (A)
2 August Schalke tournament v one of Malaga, West Ham or Schalke
3 August Schalke tournament v one of Malaga, West Ham or Schalke
5 August Huddersfield (A)
10 August Real Sociedad (SJP) 1.30pm
Newcastle United Fixtures
Sunday August 17
Newcastle United v Manchester City
Saturday August 23
Aston Villa v Newcastle United
Saturday August 30
Newcastle United v Crystal Palace
Saturday September 13
Southampton v Newcastle United
Saturday September 20
Newcastle United v Hull City
Monday September 29
Stoke City v Newcastle United
Saturday October 4
Swansea City v Newcastle United
Saturday October 18
Newcastle United v Leicester City
Saturday October 25
Tottenham v Newcastle United
Saturday November 1
Newcastle United v Liverpool
Sunday November 9
West Brom v Newcastle United
Saturday November 22
Newcastle United v QPR
Saturday November 29
West Ham United v Newcastle United
Tuesday December 2
Burnley v Newcastle United
Saturday December 6
Newcastle United v Chelsea
Saturday December 13
Arsenal v Newcastle United
Saturday December 20
Newcastle United v Sunderland
Friday December 26
Man Utd v Newcastle United
Sunday December 28
Newcastle United v Everton
Thursday January 1 2015
Newcastle United v Burnley
Saturday January 10 2015
Chelsea v Newcastle United
Saturday January 17 2015
Newcastle United v Southampton
Saturday January 31 2015
Hull City v Newcastle United
Saturday February 7 2015
Newcastle United v Stoke City
Tuesday February 10 2015
Crystal Palace v Newcastle United
Saturday February 21 2015
Manchester City v Newcastle United
Saturday February 28 2015
Newcastle United v Aston Villa
Wednesday March 4 2015
Newcastle United v Man Utd
Saturday March 14 2015
Everton v Newcastle United
Saturday March 21 2015
Newcastle United v Arsenal
Saturday April 4 2015
Sunderland v Newcastle United
Saturday April 11 2015
Liverpool v Newcastle United
Saturday April 18 2015
Newcastle United v Tottenham
Saturday April 25 2015
Newcastle United v Swansea City
Saturday May 2 2015
Leicester City v Newcastle United
Saturday May 9 2015
Newcastle United v West Brom
Saturday May 16 2015
QPR v Newcastle United
Sunday May 24 2015
Newcastle United v West Ham United