Newcastle United: Company Accounts
Newcastle United have published their accounts for the period up to 30th June 2017.
The clubs official website post can be found HERE and provides a beautifully crafted narrative on how poor the club is. Indeed the line ‘only made possible by the continued support of our owner, who injected a further £15m interest free loan into the club’ was a particular highlight.
Whilst, perfectly arguably, the relegation mess is of his own doing after penny pinching for SO long, at least Mike did the decent thing and put his hand in his pocket to cover the short term pain.
The accounts do also show, whether you like it or not, that the club did take a huge gamble in supporting Rafa in the Championship season. Had NUFC not managed to get back at the first attempt we shudder to think what the club would look like now.
The other stand out statement is the ‘wage bill’ at a propertied
£112m. This does however include promotion bonuses of £30m (of which Rafa will have had his fair share we’re sure). It also includes ‘provisions’ for other outgoings which is an interesting method or demonstrating possible future costs. With the accounts having been independently verified the filing will of course be all about board. The devil will be in the details (once the full accounts are released).
This should also give an indication of the future stage payments to be received from player sales.