Newcastle Like Lots Of Other Clubs – Financially Strapped

It’s clear from the new news today that Chris Hughton and his coaches  have been very well briefed on Newcastle’s financial situation.

Chris and Colin – coaches have been well briefed by Newcastle Board

And Chris thinks other clubs are in the exact same state as Newcastle, and the only difference being that they haven’t explicitly said anything.

Certainly Newcastle cannot keep losing £35M each year as they’ve done over the last two seasons, and they have debts of over £111M.

This is what Chris said about the situation today:

“We are in the same position as an awful lot of clubs. The only difference is that we have said what our position is with the statement,”

“I don’t see a big summer of spending. There will be a few clubs looking to add to their squad – but even clubs that have spent in the past will be looking to manoeuvre within financial constraints like we will have to do.”

“We will see what happens but I don’t think there will be lots of big-money transfers outside maybe a few clubs at the very top of the league.”

It’s frustrating to Newcastle fans that no money is being made available at such a crucial time in Newcastle’s history.

But trying to look on the bright side, it’s too early to pass judgement until we see what Chris can do over the summer.

There are certainly some decent free agents available, although most of them are older players and past their best, which is why most of them are free agents.

And some good young players at the top clubs who will be farmed out on loan for next season.   If Chris can get in four good players from those ranks then Newcastle will be in more than decent shape for next season, and could well finish mid-table.

We also have to remember all the doom and gloom of last summer, when prophesies of relegation from the Championship were completely wrong, and we are hearing some of the same doom and gloom this summer.

But we are quietly confident Newcastle can become a mid-table side back in the Premiership next season, and we expect the squad to be strengthened this summer so we can do just that.

Comments welcome.

3 comments so far

  • Ericles

    May 18, 2010 at 11:19 AM

    Comment #1

    It looks like there is going to be a shed load of out of contract players looking for clubs this summer.
    A sign of the times sadly. Even if a few quality targets can be identified there is still the risk that Ashley will not cough up even a reasonable (fat by most fans standards) salary to procure anybody.

  • G-Man

    May 18, 2010 at 11:44 AM

    Comment #2

    Hughton wants a proven goal scorer they cost money, a lot of money & we have a billionaire owner who won’t cough up any, my my times must be hard for fatboy……………..

  • lesh

    May 18, 2010 at 1:11 PM

    Comment #3

    Aw c’mon G-Man, be fair on Ashely. He’s put a lot of money into the club and without him and it, we wouldn’t be in the Prem this season.

    Give the guy some of the credit he deserves.


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