Archive for tag: Newcastle United debt.

Newcastle United: Fourth in the Premiership, but fourth in the debt league too.

October 12th, 2011 | 55 Comments |

1/150th of Newcastle United's debt.
1/150th of Newcastle United's debt.
Of course, Newcastle United have been riding along on the crest of a wave in our first seven games in the Premiership, with our unbeaten start currently seeing us in fourth. However we also stand in fourth place in another table too, that of Premiership debt.

According to the table compiled by Deloitte, Newcastle are the club standing in fourth place with a debt of £150.385 million, which is over £26 million higher than it was when Freddy Shepherd left the club in 2007. Over £111 million of this is immediately repayable on demand to Mike Ashley should Sports Direct go tits up, or he gets a little carried away in Asper’s Casino one night, the rest being recouped in installments and secured on broadcasting revenue.

Of course, the club’s catastrophic relegation to the Championship, resulting in a huge loss of television and other revenue, was responsible for most of this, despite a huge cost cutting excercise by owner, Mike Ashley.

Here’s the debt table with the top five, along with the Mackems at number 11. (more…)