Surprising News On Newcastle’s Financial Dealings

Alan Pardew has admitted in the Evening Chronicle  today that if Newcastle had brought in another striker like Loic Remy, Newcastle would have had to borrow the money, until they got the Premier League money – between £60M and £100M next May – but the truth is an awful lot of other Premier league clubs have already spent some of that money.

alan pardew in white

Alan Pardew – we didn’t want an overdraft

We agree that financially it’s better not to have to borrow money, certainly not in the amounts that Freddy Shepherd borrowed to buy expensive players for Newcastle, but in the interests of having a good side,  borrowing  say £20M for nine months – and being able to pay it off next May isn’t exactly a big  risk.

This is how Alan Pardew explained things in the Chronicle today:

“They all expected a marquee signing, although I have to say a marquee signing would have taken us into our overdraft facility.”

“That was something we really didn’t want to do, although there were two or three bids that went in that would have definitely put us in that.”

“There was the will there, but I don’t wantto say any more than that.” “I don’t want to affect our fans any more than they’ve been affected.”

“They’re disappointed, but we still carry a team that can have a successful season.”  “I don’t want to give our fans any kind of discussion about January.”

“We’ll get plenty of time to talk about that leading up to it.”  “I stated that I wanted another offensive player.”  “Another striker would have helped us.”

“I’m really happy with my strikers, but I’m a bit vulnerable to injury.”“But everybody has trained, and we’ve got a great team to turn up at Villa.”

“We’ve got a really good side, and a good bench, a bench which can affect the game.”  “I don’t want to talk about that. But for the mood of everybody, it’s been tough.”

What’s become clear to us over the summer, is that the priority of  Mike Ashley is to have good, maybe very good financial books, and that’s at the expense of bringing in top players.

Here’s a perfect illustration of that – but clubs like West Ham, Fulham, Norwich, Swansea, Cardiff, West Brom and others have all spent money they didn’t y have this summer, and the top clubs always do that – but their future revenues are so high that they can quickly pay off the balances and keep themselves above water.

So this  is an illustration of the lack of ambition of Ashley – and while it is very good he now has the financial books in good order ( we don’t want to minimize that) –  he needs to loosen the purse strings  a little, so that we can bring in some good players, even if it means going into debt for a short nine months.

Just think what the fans’ mood would be right now, if we had brought Gomis in. and say a couple of good English players over the last week of the transfer window – and that’s in addition to Loic Remy.

After all the success of a football club is measured on the field of play, and not what we have in the bank.

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