With Portsmouthth entering administration today, Newcastle manager Chris Hughton has come out and said he knows about the financial situation at Newcastle.
Mike Ashley with Chris Hughton
But let’s not blame the financial problems of Portsmouth, Cardiff City, Crystal Palace and other clubs, wholly on the global economic conditions.
That’s being too polite to the financial managers of these clubs, because they have gone down because of poor and even reckless financial management – and let’s not forget that.
The poor economic conditions have certainly not helped, but they are by no means the major culprit in all of this.
It looks like Chris has been somewhat kept in the picture at Newcastle regarding the financial situation, and he has to realize if the club don’t get promotion this season, things will need to change big time at Newcastle, and not for the better.
Chris talked about the financial problems hitting some clubs:
“We all have to be wary because there are more and more clubs being mentioned as each week goes past,”
“It is a real sad, grave day when a club goes out of business. Whether that will be what it takes for everyone to take stock I don’t know but it’s troubled times with clubs in financial difficulties.”
“There will be four or five big clubs who’ll be able to bring in the big players with financial clout but outside that everyone will have to live within their means.”
There’s no doubt that Newcastle still have far too large a wage bill at around £40M a year for a second tier club.
And the fact that Mike Ashley is loaning the club big sums of money at zero interest rates to keep the club afloat, seems to have gone over well with the Geordie fans.
But Mike still has an awful lot to do for the Newcastle club to just make up for his major mistakes in the past.
But credit where credit is due, and it seems since Mike took the club off the market late last year, he’s done most things right.
There is the renaming of St. James’ Park that comes to mind that was not a good thing to say or do.
Nut to his credit he supported the manager with real money last month, and has wisely kept in the background, and heard the songs sang against him at every home game.
“I’m aware of some of the financial situations we have here, I know we have an incredibly large wage bill,”
“What I did ask for in the window was support from upstairs and I was able to get that. They’ve been very good on that.”
“Some clubs will find it difficult to get out of the situation they find themselves in,”
Even through Newcastle are in the second tier this year the home gates, at just less than 43,000 average, are still the 5th best in England.
That says something about the Newcastle club, and even more about the Newcastle fans, who are not only the best in England, but the very best in Europe too.
They are Newcastle United.
Howay The Lads!!