Home / Football / Newcastle United post profits for third successive year

Newcastle United post profits for third successive year




Happy with that: Newcastle United owner Mike Ashley Photo: GETTY IMAGES




Despite spending £28.7m to sign six senior players last season – Vurnon Anita,
Mathieu Debuchy, Yoan Gouffran, Massadio Haïdara, Moussa Sissoko and Mapou
Yanga-Mbiwa – Newcastle United were still able to post impressive financial
figures thanks to an increase in turnover.

Their profits are likely to soar again next year, as they have not spent any
money on permanent signings this season and have sold Yohan Cabaye for £19m
to Paris Saint Germain. This season also saw all Premier League clubs
benefit from an improved television deal.

That will infuriate supporters who have accused Newcastle owner Mike Ashley of
showing a lack of ambition because of the reluctance to spend money to
improve manager Alan Pardew’s squad, although the club’s board insist they
are trying to grow and improve the club gradually.

The figures revealed Newcastle received £11.7m from player sales, with the
most notable being the departure of England goalkeeper Fraser Forster to
Celtic, striker Demba Ba to Chelsea and Leon Best to Blackburn Rovers.

United’s turnover increased to £95.9m – up from £93.3m – after a 24.2 per cent
rise in commercial revenue, which grew to £17.1m. The wage bill fell to
£64.1m, with the wage-to-turnover ratio down four per cent to 64 per cent.

Newcastle’s debt is restricted to the £129m they owe Ashley in the form of an
interest-free loan.

A statement from the club’s board read: “As supporters will be aware,
finances are a significant issue for all football clubs given the
introduction of Financial Fair Play into the Premier League in addition to
UEFA’s Regulations.

“Complying with FFP continues to be a key influence on strategy, and
something we have been working hard at over a number of years.

“Everyone at this club wants to finish as high up the Barclays Premier
League table as they possibly can.

“If the club can sustain itself as a ‘top-10′ team year-on-year with a
stable structure and the right finances, it gives itself every chance of
pushing even further.

“Matchday and commercial revenue is a key driver, because that’s where
the club can compete with – and out-perform – its competitors to enhance its
spending capabilities.

“Ultimately the income the club generates, particularly given the
restrictions of the Premier League FFP Rules, will directly impact on the
strength and quality on the pitch.

“The process requires patience, but we remain absolutely committed to
growing the club in a responsible and sustainable way.”


Link:  

Newcastle United post profits for third successive year

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>