Newcastle Club Reported To Be Completely Skint

Brian McNally is reporting in the Daily Mirror today that Newcastle are completely skint.

Newcastle owner Mike Ashley – no more loans to the club?

The report suggests that if  Newcastle fans think that the club might find some money to strengthen their squad in the summer with some quality buys, they  are doomed to disappointment.

The only new arrivals at St. James’ Park will be free transfers,  loan signings or perhaps even  part-exchange deals, but it looks like no transfer money will be made available for new transfers that actually cost money.

We already have been told that the squad will be expanded with five of  the the youngsters who will now be part of the first team squad.

We had reported in early May that the five were 17 year-old Haris Vuckic, 18 year-old Irish defender Stephen Folan, 18 year-old Australian-born Brad Inman, Swede starlet 18 year-old Samuel Adjei and 18 year-old Amble-born striker Phil Airey.

The Mirror is saying that most Newcastle fans think Ashley is only bluffing to keep the transfer costs of their targets low, but they report that owner Mike Ashley is deadly serious about no transfer money being available this summer.

The Newcastle club actually owes Ashley £111M plus at least another £20M to Barclays, and the club’s operating loss over the last two seasons has been about £70M.

The strategy last season of keeping players we couldn’t afford, like Coloccini, Gutierrez, Barton, Smith, Enrique, Nolan and others – paid off big time.

But that money was only made available by Ashley, and while it paid off handsomely we now probably need about another £10M – at the very least loaned to the club – from Ashley’s pockets, if we are to be certain of survival next season.

But that doesn’t look like it’s going to happen,  and the club certainly cannot borrow any more funds from Barclays Bank,  as they’ve already borrowed money on the security of transfer funds they will only be receiving over the next year.

Oh my!

It’s good that we at least have  Chris Hughton as manager at the club, who seems willing to just get on with  it, and we have to hope he can indeed get some good loan signings in – and maybe even some free agents – although we think that may be more difficult.

We may be the only ones – but we still think Newcastle can have a decent  season back in the PL.

And on a positive ending note – we have to remember last summer when some famous Journalists were also reporting the sky would fall in on Newcastle  during the Championship – and we would end up in League One – and look how that turned out.

Hey – there’s still hope.

Comments welcome.

52 comments so far

  • The-Ciaran8

    Jun 5, 2010 at 3:45 PM

    Comment #1

    well we have to stay positive

    However i hope The fat controller leaves.

  • Craigg

    Jun 5, 2010 at 4:05 PM

    Comment #2

    I refuse to believe anything the mirror says

  • MarkO

    Jun 5, 2010 at 4:17 PM

    Comment #3

    We will have some money to spend, this story has no substance at all

  • davybtoon

    Jun 5, 2010 at 4:36 PM

    Comment #4

    ive said all along we will hav money not much say bout 10 million, i dont believe anything papers says n wit the qaulity of some free agents available am not worried we hav to sign kris boyd n albin on frees houghton will b making is first big mistake if he finks he dosent need to streghten

  • newcastle29

    Jun 5, 2010 at 4:49 PM

    Comment #5

    utter rubbish!! this season will see the club come back into the black with barclays ,if we are careful. there will be money available i reckon about £15-£17m. if we had the sense to put a sell on clause in some of our player we sold we could have had a few more quid!

  • MarkO

    Jun 5, 2010 at 4:55 PM

    Comment #6

    I really think we should look at Patrick Helmes! He was a German international till he got a horrific knee injury at the start of the season. Once he recovered he never got back into the first team becuae of the form of Stefan Kießling and subsequently said he wanted to leave to get back into first team football. So he is available on the cheap and is twice the player of any of our strikers, so why not?

  • snoutshuffler

    Jun 5, 2010 at 4:57 PM

    Comment #7

    Newcastle29 – Can you tell me how you calculate that?

  • snoutshuffler

    Jun 5, 2010 at 5:00 PM

    Comment #8

    “but we still think Newcastle can have a decent season back in the PL.”

    I don’t think that, I think it will be quite the struggle in all honesty and I don’t need a spokesman telling me what “we” should be thinking.

  • newcastle29

    Jun 5, 2010 at 5:11 PM

    Comment #9

    snoutshuffler. yes i could but i won’t on here!

  • snoutshuffler

    Jun 5, 2010 at 5:20 PM

    Comment #10

    Newcastle29 – Nice swerve. I have the accounts here, so if you could tell me which page I should be looking at, and how in principal our income has increased enough to warrant a swing of £60 million from a near £20 million profit from a near £40 million loss?

  • Daverism

    Jun 5, 2010 at 5:26 PM

    Comment #11

    His statement, I’m sure you all remember it, basically said, DO NOT BELIEVE ANYTHING YOU READ IN THE PAPERS.

    Especially the Mirror, Not saying he will spend, but if the Mirror are suddenly in the know, then the world has flipped on its heed.

  • newcastle29

    Jun 5, 2010 at 5:28 PM

    Comment #12

    no swerve intended, i thought you were on about the £15-£17M

    first off, money for going up, money from sky, money outstanding from transfers, new kit, increased revenue and sales from upturn by getting back in the p.l. lets not forget the club will have almost 40% less wages to pay since the last time we were in the p.l.

  • snoutshuffler

    Jun 5, 2010 at 5:37 PM

    Comment #13

    Ok, money for going up is no different to what it was when we went down. TV money wont rise until NEXT season. Finish 17th an that will net the club a massive £4 million in prize money.

    Money outstanding from transfers is already going to Barclays bank.

    We wont have 52,000 fans week in week out, enough is enough on their part, and season ticket renewals have been abysmal.

    I can see us losing a small figure, possibly £5 million or so, but certainly not a profit of such magnitude.

  • coxonfamily

    Jun 5, 2010 at 5:41 PM

    Comment #14

    The only suprise here is it took the mirror; say 4 weeks after the statement from the club, to write a story about us.

  • newcastle29

    Jun 5, 2010 at 5:44 PM

    Comment #15

    those season tickets will sell, but maybe people are hanging on to their money for a bit longer and waiting to see what we do in the transfer market. after the world cup we see season tickets starting to sell.

  • G

    Jun 5, 2010 at 5:49 PM

    Comment #16

    I’m pleased to see the general consensus is that we are not believing this rubbish. A non credible story from a non credible journalist from a work of fiction that isn’t even fit to wrap chips.

  • coxonfamily

    Jun 5, 2010 at 5:50 PM

    Comment #17

    if the fans showed up the way they did last season to see some sloggy workman like performances, im sure they will show up to see premiership players… even if it is others running circles around us, we geordies just love beautiful football no matter who is playing it 😀

  • GeordieTartanArmy

    Jun 5, 2010 at 5:54 PM

    Comment #18

    5.9m for given + 6m for N’Zog= 11.9m__minus Nolan = 7.9m
    9m for oba + 8m for Bass +7.5m in total for beye, duff and geremi = 24.5m___minus 4.25 for jan transfers = 20.25m
    So, with 90m from promotion minus cost of relegation we have made about 17.25m over football related finance. despite player compensation, we will have made more than this due to terminating wages of Owen, Viduka, Butt, Cacapa and the sold players
    Newcastle have made money on the football side of things therefore they are not skint – if anyone is – its Ashley but the Times still squeezed him into the Rich List suggesting he still has hundreds of millions more than most football club owners therefore he should just pull his finger out and line messi torres and drogba upfront for us – then i will be happy

  • baro

    Jun 5, 2010 at 6:05 PM

    Comment #19

    I hope we get a Middle Eastern Sheikh super rich guy as our owner. And get this fat Mike Ashley out of here.

  • snoutshuffler

    Jun 5, 2010 at 6:17 PM

    Comment #20

    I struggle to see how promotion is worth £90 million? Are people believing the headlines again?

    I have never once seen £90 million bandied around about us. I have for Blackpool though. Here is why;

    Promotion is worth £40 million, yes £40 million that is all. To get it up to the £90 million, Blackpool would have to get relegated again and not bounce back at all.

    The £90 million is promotion money, plus full parachute money. Don’t take my word for it, read the artcicle about it, and not just the headline.

  • kristfro

    Jun 5, 2010 at 6:47 PM

    Comment #21

    There are two good things about this whole no-funds situation:

    1 – The youngsters will get invaluable match experience.
    2 – Nobody expects us to do well now, so there is no pressure for the players to fail to handle. Who knows, with players not under-performing, we might have a better team than we think.

  • boater

    Jun 5, 2010 at 7:00 PM

    Comment #22

    kristfro – that’s putting a positive shine on things.

    Let’s not get embroiled in speculating the finances of our club one way or another. The papers know we are a soft target for a lazy weekend windup, don’t fall for it.

    Whatever happened to enjoying the promotion and kicking back with a cool one for the world cup? We may be pleasantly surprised come august with 3 or 4 smart additions, if we aint worry about it then.

  • gorskino10

    Jun 5, 2010 at 7:19 PM

    Comment #23

    Among our “Realistic” fans we knew we would have very little money, i was hoping maybe a few million but i am not supprised we have nothing, we have a good group of players and with a few youth players and freebies we will do just fine, but its rare to see a club spending nothing after being promoted, even Burnley spent a few Million, and look at Wolves spending 7 Million on Fletcher when we cant afford 1 Million :p how times have changed but i prefer us now than a few years back, and now this is the first step in the EPL we will be spending in a few years once we are established in the league.

  • Insomniac

    Jun 5, 2010 at 7:57 PM

    Comment #24

    I’ve been reading this site for quite some time now and just wanna say thanks to toonsy for such a well presented, up to date site with some good insights.

    I do however believe this story to be complete conjecture, no solid evidence or quotes. What do we expect from the mirror though??

    I’ll believe it when I see it, if we reach transfer deadline and we haven’t signed anyone I’ll eat my skiddys!

    Besides which, although we have a weaker(on paper) team than our last premiership outing, I still believe we have a good backbone in this squad and they are better prepaired/equiped to handle the EPL pressure cooker. No quitters here and none welcome!

  • Toonmania

    Jun 5, 2010 at 8:30 PM

    Comment #25

    perhaps i should give mike ashley the phone number to one of those annoying dept management company’s that keep ringing in the middle of the day and night 😀
    but i think as a club we are far from skint, the likes of manure are skint at least we are not in there position, give it a couple of more years and if they don’t sort there debts/accounts out they are going to be in deep do do.
    i know who’s shoes i would rather be in 😉

  • Toonmania

    Jun 5, 2010 at 8:37 PM

    Comment #26

    has anybody heard from jaynufc1989??? you know the one i mean, aka teaboy’s friend from shearers bar 🙂

  • JSYproject

    Jun 5, 2010 at 8:40 PM

    Comment #27

    Like daverism pointed out, the statement said that they would not be assosciating with the press and that all future statements would be made through the club.

    so we can basically guarentee that most of these transfer targets are invention of the media anyway.. unless someone has actually done some work to find out the facts instead of sittin in there office making up rumour after rumour.

    i for one did not think money would be made available in january but was pleasantly surprised. im just hopin for the same this time. we werent linked with anyone we got then either so i think if we do make any signings they most likely wont be people we have been linked with anyway. fingers crossed we will get what we need from the fat man, heres to hoping he wants to protect his investment.

  • JSYproject

    Jun 5, 2010 at 8:44 PM

    Comment #28

    haha i think jays gone for good.. got snapped up by the mail on sunday to take over gary linekers column. jays transfer update, look out for it

  • Toonmania

    Jun 5, 2010 at 8:48 PM

    Comment #29

    no chance he didn’t have that much bull, he might have made it to the guardian though working under his fellow mackem supporter louise taylor, infact i think she was the one he was talking about when he sad he had a girlfriend to keep him company.

  • AndyMac

    Jun 5, 2010 at 8:50 PM

    Comment #30

    I just wish you could stop this inane drivel about how much the club has or hasnt got and let things take their course.

    At the beginning of the next football season we’ll be in the Premier legaue, thats the time to start talking about the club and its hopes for the future.

    All this does is stir up the mindless numbneuts who want the Ashley regime to fail so they can all sya “Told you so”.

    As I have said so many times before, whether you like him or not he was the only one, I REPEAT THE ONLY ONE bidder for this club after SJH and Fatso had cleared out the coffers, milking it for all it was worth.

    Remember, before you all whinge and moan about the club and its finances, think about those Red Scousers who have now got rid of Benitez only to replace him with Dalglish ????

    By all means complain about the current ownership of NUFC but think about what options there are to replace him ???? I know that bloke who was friendly with Shearer whose business went bust but sat next to Ashley once. Yeah he seems an ideal candidate.

  • TheHeyman

    Jun 5, 2010 at 9:49 PM

    Comment #31

    I’m sure some one will correct me if my theory is wrong but is it possible that the statistcs on what the club is supposed to owe could be down to MA previously preparing to sell the club and make as much money as he can and pass on the debts on to the possible new owner.

    When realising he is not going to sell the club (possibly down to the clubs new debt) he could have payed back all the oustanding debts again (why he had to put more or the same money back) but looking like he is putting new money in.

    This would mean that the club would not have to pay out interest on loans to the banks.

    Another thing that is bugging me; as owner, is MA entitled to be paid by the club and if so, has this been disclosed. I was wondering if this is another way he could be making money out of the club?

  • Thump

    Jun 5, 2010 at 9:51 PM

    Comment #32

    @AndyMac: Are you unaware of Dalglish managing LPFC previously? I don’t see why you’d object to that, he’s a good manager the problem with him is that he can upset the punch (as he did at Newcastle) with his own players. If he keeps the core of players at LP then he’d do fine.

    I do agree with pretty much everything else, though. Getting tired of the doom and gloom stories.

  • G

    Jun 5, 2010 at 11:11 PM

    Comment #33

    Thump @ 31, I can’t help but feel you are being a bit over generous with priase for KD, but, I also have to acknowledge that he is one of an elite bunch of men who has won the league (regardless of how it happened with Liverpool and Blackburn) in the UK with more than one team (the only other name that springs to mind is Brian Clough with Derby and Forest?). I suppose these statistics do not lie. I do have to add though, he was never the right man for Newcastle at the time. Personnaly, I ironicaly wanted Ruud Gullitt, and look how that one went! Doh!

  • bill

    Jun 6, 2010 at 12:04 AM

    Comment #34


    The Ashley project did fail; did you miss relegation?

  • SAMeobi

    Jun 6, 2010 at 12:20 AM

    Comment #35

    if we look at it this way….

    Butt was on around £55k a week.
    Pancrate was on around £12k a week
    Xisco is on around £50k a week
    Fitz Hall was on around £10k a week.

    Them wages per week translated into cold hard cash is around £6,000,000. Even if Cashley aint coughin up at least we have that much…providing we get rid of Xisco….and if his actually allowed to use that money for transfers!

  • roy cropper

    Jun 6, 2010 at 12:37 AM

    Comment #36

    JSYproject – take your tongue out of the lump of lards ring piece before you catch something.

    your’a world class wanker i’d never tire of braying.

  • roy cropper

    Jun 6, 2010 at 12:40 AM

    Comment #37

    JSYproject – your the type of world class w@nker i’d never tire of punching – regardless of what time of day it is.

  • roy cropper

    Jun 6, 2010 at 1:14 AM

    Comment #38

    haley and me are finished – i hoyed her oot for not putting the bog seat down after she’d been for a gypsies kiss.

    but hey this is the world we live in.


  • PGToonBoi

    Jun 6, 2010 at 3:12 AM

    Comment #39

    On the bright side, at least the players from the academy are given the chance unlike most bpl clubs who keep spending on foreign players while their youth would be either spending their lives getting loaned out or eventually gets sold to lower league clubs…

  • Bao Zheng

    Jun 6, 2010 at 4:32 AM

    Comment #40

    The fact is NUFC finances were a train wreck. We have made progress and the big guy will need another say 2 years for insane committments to expire and to get things under control. Seems to me it’s entirely possible that at least 1 and maybe 2 of the 3 relegation places next season will be filled by 10 point deductions for clubs in administration. I would prefer if we weren’t one of them.


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