Archive for tag: Newcastle freeze season ticket prices.

Club to announce financial good news all round

March 6th, 2012 | 44 Comments |

Newcastle United to announce profit
Displaying financial acumen?
Newcastle United are set to announce strong financial results, have settled a dispute with the tax office and have frozen season ticket prices for 9 years.

According to an article in The Telegraph, Newcastle’s results for the 2010/2011 financial year – which are due out later this week – are set to show that the club is in good shape. The Telegraph goes on to suggest that they will show the club has made a profit for the first time since Mike Ashley bought it in 2007.

Apparently said results will not include player trading, although we should still have change from the £35m windfall we received from Liverpool for the sale of Andy Carroll.

In a separate article, The Telegraph goes on to say that the results will also confirm that we’ve reached an agreement with the tax office over ongoing disputes we’ve had with them.

The main dispute with HMRC has been about players’ ‘image rights’. This was a kind of tax avoidance scheme where payments to players were labelled as ‘image rights’ rather than ‘salaries’, which meant that such payments could be made to companies rather than individuals and thusly attract 26% corporation tax rather than 50% income tax. This is something that at lot of Premier League clubs have been up to and most have reached agreements with the tax office about it. Allegedly the settlement agreed by Newcastle has already been accounted for by a contingent liability put aside in the previous year’s accounts. (more…)

Newcastle ‘not for sale’ as prices are frozen.

March 3rd, 2010 | 67 Comments |

Derek Llambias, our much-maligned Managing Director, has been running his mouth off again and has revealed that Newcastle United are no longer for sale and claims fans are beginning to come around to owner Mike Ashley’s way of thinking.

It’s a somewhat surprise statement really as surely any hint of a sale was ended back in October when the club was taken off the market for a second time after again failing to find a buyer, but Derek Llambias believes Ashley is now beginning to show just how committed he is to the Newcastle cause.

Speaking to Sky Sports News, PR disaster Llambias had this to say about Ashley’s commitment to the team: (more…)