Archive for tag: Newcastle United accounts 2011.

Newcastle United 2011 accounts now online (£32.6 million profit after Carroll sale)

March 15th, 2012 | 53 Comments |

Newcastle United crest.
Newcastle United: £32.6 million profit after player trading.
Newcastle United’s annual accounts were finally released to the public today by Companies House.

These, of course, are the accounts which cover last season, our first since being promoted back to the Premiership at the first attempt. As previously announced in a PR statement by the club’s Managing Director, Derek Llambias, operating losses before player trading fell to -£3.9 million, which is significantly down from a loss of £33.5 million for the period which covered our season in the Championship. However, the club’s overall profit after player trading was a mighty £32.6 million. This of course was due largely to one man, not Mike Ashley, or Derek Llambias, but Andy Carroll, whose sale to Liverpool FC brought in a huge £35 million to the club’s coffers. This is up from a loss of -£17.1 million in the previous year. According to the report, this profit “has been transferred to the club’s reserves.”

Newcastle United debt

On the matter of the club’s debts the report and financial statements reports:

“The overall level of net debt (including shareholder support loans and net of cash) has fallen from £150 million to £130.5 million.”

Basically, this figure is a £140 million pound debt to the club’s owner, Mr. M.J.W. Ashley, minus a positive bank cash balance of £9.5 million. This is still significantly higher than it was when Mr. Ashley took over the club in 2007, when it was around £70 million. However, this £70 million figure did not include the mortgage on the ground which had to be paid off, which took the true level of debt to around £124 million. (more…)