Archive for tag: Newcastle United announce financial results.

Newcastle United release worrying set of accounts.

May 3rd, 2010 | 152 Comments |

A lot depends on these two
A lot depends on these two
Newcastle United have now released the latest set of club accounts, and they don’t make good reading, that’s for sure. I’ll go into more detail later on, but the financial results show just how precarious things could have been if we didn’t have an owner with a huge personal fortune to bankroll us. Whether you love him, hate him, or sit somewhere in the middle of the two, it can’t be denied that Mike Ashley has put his hand in his pocket to keep the club afloat.

Of course we all know the turmoil of last season, but it’s only now that the true financial extent of it is becoming clear. As a football fan, I want to watch my team without worrying about anything else and I want to see the best players and biggest names playing for my club week in week out. However, football fans up and down the country have had to become increasingly more understanding of just what is happening to the financial side of things at their respective clubs. What is happening at ours isn’t pretty and gives a strong indication as to just why the club were unable to find a buyer when the ‘for sale’ sign went up. It will only get worse this time next year as the true cost of falling out of the Premier League will be revealed. There is however some light at the end of the tunnel, albeit a very distant light, but it is still there. (more…)