Healthy profit for Newcastle

Newcastle have announced a post-tax profit of £9.9m for the year ending June 2013.

Last Updated: 25/02/14 at 17:09 Post Comment   

Moussa Sissoko: Among several signings who cost Newcastle £28.7m in transfer fe

Moussa Sissoko: Among several signings who cost Newcastle £28.7m in transfer fe

The figure represents an £8.5m increase in profit on the previous 12 months and, according to Newcastle, is down to "player trading, a strong commercial performance and a significant reduction in operational losses".

Newcastle made a £10.6m profit on player sales, the bulk of which came from the sale of Demba Ba to Chelsea, although £28.7m was paid in transfer fees on the likes of Mathieu Debuchy, Yoan Gouffran and Moussa Sissoko.

A 24.2% increase in commercial revenue drove overall turnover up to £95.9m, while matchday turnover was also up and operational losses significantly down - from £5.1m to £616,000.

A statement from the club's directors made it clear they believe a long-term strategy of financial responsibility will bring rewards - despite renewed criticism of owner Mike Ashley in the wake of Yohan Cabaye's recent departure.

The statement 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 ten' 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 outperform - its competitors to enhance its spending capabilities.

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

I'm amazed at some of the comments from Newcastle fans. Apparently a small profit isn't allowed for the owners. Keep in mind that they had to sell a few players to even make that profit, and still spent over 20 million pounds on players. I just don't get football fans. How dare the owner of the club try not to lose money every season.
- monstashak

Football365 Facebook Fan Page

The Football365 fan page is a great place to meet like minded people, have football related discussions and make new friends.

Related News

Sky Bet

    • Retrieving latest Sky Bet odds

Most Commented

Readers' Comments

I

may well get slated by other United fans for this, but out of the three contenders, I'd far prefer Liverpool to win the title. Yes some elements of their fanbase can be a bit OTT, yes they're our biggest rivals and yes it will make our poor season feel even more like the end of an era (Fergie's gone, Liverpool are back on top). However I just have to applaud Brendan Rodgers and the way he's turned Liverpool around in just a couple of seasons. It...

Mike_Christie
Please Stop Telling Us What To Think

H

ooray! We are all excited now, we beat a very mediocre team! With all due respect to WHU supporters, not winning that game shouldn't even be a consideration. This is the problem, there is no winning mentality at the Emirates - we're all congratulating ourselves beating a team that we have a winning record against.

TheWhiz
Wenger hails important win

I

s this meant to be an aspiration for United supporters? Moyes mediocrity strikes again. I see the Bayern boys don't want to sign for him, and his reputation amongst the senior European coaches make other key signings unlikely.

redbornandbred
De Gea's Europa League target

Footer 365

Transfer news: Southampton boss Mauricio Pochettino warns off Luke Shaw suitors

Mauricio Pochettino says in-demand defender Luke Shaw will be staying at Southampton.

Premier League: Liverpool manager Brendan Rodgers targets win at Norwich

Liverpool manager Brendan Rodgers believes Sunderland's draw with Manchester City is a "warning sign" for his side.

Transfer news: Schalke's Julian Draxler set to stay put, insists chairman

Clemens Tonnies says it would take "something extraordinary" for Julian Draxler to leave Schalke this summer.

Mail Box

Mignolet Is The Reason For Liverpool Flying

Mignolet's bad kicking is the reason for Liverpool's success, whilst one man keep notes on F365 mails. Plus England excitement, Arteta and a bad Walsall experience...

City: Bottle Jobs, A Laughing Stock...

There are some harsh words for Manchester City and Manuel Pellegrini in the Mailbox this morning, as well as some rather nicer ones for Tony Pulis and his magic hat...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property