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Newcastle’s Financial Picture To Improve Dramatically

10:54 am, Saturday, November 16th, 2013 by Dr. Ed Harrison · 73 Comments

Newcastle’s financial outlook is good, and in fact it’s very good, it we can stay in the Premier League, although we are told by Joe Kinnear and Alan Pardew at frequent intervals that we cannot compete with the likes of Manchester United, and that’s true, but with the new three-year Premier league deal, Newcastle should see increases in both our revenues and profits in the next few years.

mike ashley joe kinnear

Mike Ashley and Joe Kinnear at Newcastle

It didn’t help us at all that we were relegated in 2009, and you can see how that hit Newcastle revenues with this following chart showing the revenues over the last five years.

newcastle revenues

And by thrift financial controls – sometime severe - Newcastle have managed to become profitable in the last financial year we have figures for – it’s a small profit of only £1.4M but a profit nonetheless, and shows Newcastle have their costs under control.

And notice in the relegation season we actually reduced our losses from the previous year, even though the revenues went down by about £34M.

newcastle profit and loss

We are short on commercial revenues as we are told constantly, but it would help if Mike Ashley’s company Sports Direct, would pay for all the advertising we see around St. James’ Park, and in fact not paying for that advertising would not be legal over here in the US.

But the point we want to make is that with the new Premier League TV deal – clubs now get anywhere between £60M and £100M come the end of the season in May –  and the actual amount depends on various things such as league position and how many times the club has been shown on TV, amongst other measurements.

That’s an average of £80M, and in the previous TV deal, the clubs were paid anywhere between £40M and £60M, which is an average of £50M.

So on average each Premier League club will get an extra £30M a year because of the new TV deal.

If Newcastle can keep their costs under control, and why would we not be able to do that (?), then that’s an extra £30M at the top line, and that will flow right down to the bottom line – the profit.

So while admittedly it’s a simple way to look at this, the extra TV money should see Newcastle’ profits increase in the 20013-1014 financial year, and remember we still don’t have the figures for the financial year that ended on June 30th of this year, and those figures should be good.

If Mike Ashley will pledge to put all profits back into the club, which Derek LLambias kept saying was always the plan,  we should be in very good shape financially, and yes we still can’t compete with the Manchester Uniteds of this world, but we will still become a richer club than we are at the moment.

We’re the 20th richest club in the world today and we should move up that league table in the next few years.

We think that’s good news.

Comments welcome.

Ian Begg is a reader who recently found out that his Mom was very ill, and he has to return to Australia. Ian has a Platinum Club season ticket that has £700 left on it, and he is willing to sell it for £550 or a best offer.

Please see if you can help Ian out, and you can contact him by email at – thanks.

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Tags: Financials · Newcastle News · Other News · Recruitment · Transfer News and Rumours


73 responses so far ↓

  • 1 NEWEXPATMAGPIE // Nov 16, 2013 at 11:11 AM

    Financially healthy ??

    ” If Mike Ashley will Pledge to put all the Profits back into the Club, which Derick LLambias said was always the plan, we should be in very good shape financially…………????? “!!

    What is all this for a Crock…………….. !!!!

    Ashley probably won,t put one cent of the TV money back into the club? He,s just tight for that, a decent signing in the Transfer Window last summer was too much for him, also last summer, the only permanent signing was Vernon Anita, but then came January and most of the French we signed were either on the cheap or free transfers?

  • 2 NEWEXPATMAGPIE // Nov 16, 2013 at 11:13 AM

    “He,s just too tight for that………..”

    Seem to remeber that we had no summer pre-season training camp either before the kick-off this year?

  • 3 jimmysmith // Nov 16, 2013 at 11:14 AM

    If he trousers the money, he surely puts himself at grave risk, although frankly, I wouldn’t put it past him.

  • 4 NEWEXPATMAGPIE // Nov 16, 2013 at 11:17 AM

    That just my point Jimmy ?

    He has pumped money into the club, yeh, but what he,s taking out is way more ! Advertising rights for example, St James looks like the Direct Sports Arena he tried to make when they tried to change the name of the ground !

  • 5 Ciaran // Nov 16, 2013 at 11:24 AM

    Eugh, our financial position improving does not help the team or the fans, it simply helps Mike Ashley so cut with the “this can only be good for Newcastle United” bullsh** Ed.

  • 6 toonarmydownsouth // Nov 16, 2013 at 11:24 AM

    From previous
    Heard a few times now that the big man has his heart set on going stateside!

  • 7 Plaigombi // Nov 16, 2013 at 11:25 AM

    Well written article but wishful thinking I’m afraid. Cashley will use every device he can come up with to drain finances from the club. He sees NUFC as a cash cow and dreaming of its revenue being invested in strengthening the squad is pointless. Whilst he is in charge things on the pitch will just stumble on, good players will be sold and cheaper ones bought and the chances of us being truly successful are nil.

  • 8 Toonboy_84 // Nov 16, 2013 at 11:41 AM

    Sick of the f#cking adverts on this site. Ed, you really need to sort it out. Used to love coming on here. Now I get all sorts of crap on my Android phone. Downloads of all sorts too. Ruining a good site they are. Please get rid of them.

  • 9 Charlietoon // Nov 16, 2013 at 11:55 AM

    At least it’s not about remy scoring goals and therefore being more desirable to other clubs.

    Ashley has probably sat down and worked out he will make more money off advertising his brand than selling the board space to someone else. It would be nice if he took this into account when looking at his debt as we could easily be paying off a few mill a year if we we selling that space to someone else.

  • 10 NUFCarter // Nov 16, 2013 at 11:56 AM

  • 11 lesh // Nov 16, 2013 at 12:19 PM

    Here we go again…. Ashley pocketing money blah blah blah.

    When will some folk realise, any surplus in the club is not his to pocket.

    Let’s not forget that the business that is the football club owes Ashkey £100m plus. And that being so, he’s got every right to call that debt in at any time.

    Don’t get me wrong, I am not an apologist for Ashley and like many have been astonished by the stupidity he’s shown over the years (Wise, Kinnear, Wonga etc etc) but it’s really up to him what he does.

    However if he was less impulsive and appointed credible advisors and officials, things would be so much better.

    Until then…… Same $cheidt different Christ. What joy

  • 12 Hatem's better than Messi // Nov 16, 2013 at 12:22 PM

    We’ll be in a better financial position?


    It’s Ashley’s NUFC not ours.
    I feel less and less connected to the club.
    My blood is b&w but it isn’t coursing through my veins with passion anymore.

    Instead it is slowly trickling around my body as my support goes into hibernation until Ashley is gone and it? springtime again in Newcastle.

  • 13 ToonDarnSarf // Nov 16, 2013 at 12:30 PM


    Very well said. Ashley made stupid mistakes with KK, not appointing a proper football chairman/DoF, JFK (twice!) and screwing up the relationship with the fans, but it’s a stupid argument to say the money s going into his pocket, the facts show this is untrue. Unlike our previous owners who earned millions from the club from wages, perks and of course selling their shares.

  • 14 Hatem's better than Messi // Nov 16, 2013 at 12:38 PM

    Anyone want to win a cup?
    Want to see Ashley in all the photos?
    Want to see what happens to Pardew’s ego after he wins something?

    I know it’s not likely with Pardew in charge but I can’t stand being in the free SD advertising mid-table limbo anymore.

    I will now take a relegation to get rid of Ashley.
    I love NUFC so much but I am so gutted by the way Ashley runs our club. Sorry lads.

  • 15 Jail for Ashley // Nov 16, 2013 at 12:54 PM

    I bet you absolutely loved the way Thatcher dealt with those miners.

  • 16 Ciaran // Nov 16, 2013 at 12:57 PM


    Ashley does take money out of the club, evidenced by the 11 million he took from the club last season. He intended on taking 18 million out of the club this year but that has since been postponed.

    So yes, money that is made by the club does in fact make its way to Ashley’s pockets. Also, given that Rangers merchandise has made its way on to nufc online club shop, it would be interesting to see if the contract is between the buyer and NUFC or the buyer and Sports Direct…

  • 17 Ciaran // Nov 16, 2013 at 12:58 PM


    If you hate how people make money from selling shares, you must despise how Ashley recently pocketed a cool 100+ million from his recent flogging of SD shares (which have largely increased in value given how much exposure he has received piggy backing on NUFC)

  • 18 anwarzkm // Nov 16, 2013 at 12:58 PM

    the guy has ambitions,lets be patient,i remeber when he(MA) said back in 2010,that he has 5yr plan how to improve this FC,haven’t we settled well since we return from relegation?no doubt yes,so the 5yr strategy is still working,what we need now is some consistency and adapt how to bounce back from painfull defeat,like sunderland.the future is bright..HWTL

  • 19 ToonDarnSarf // Nov 16, 2013 at 1:03 PM


    Politics my friend…out of bounds on this blog…happy to discuss anything over a beer with an open minded person but definitely not on here.

  • 20 ToonDarnSarf // Nov 16, 2013 at 1:04 PM


    I don’t hate people making money from shares. I’m just pointing out the facts. It helps when a person’s arguments are backed by facts.

  • 21 Jail for Ashley // Nov 16, 2013 at 1:07 PM

    I’ll take that as a yes then.

  • 22 ToonDarnSarf // Nov 16, 2013 at 1:09 PM

    Ciaran, do you really believe this rubbish or do you just want to cause arguments? I’m frankly tired of contradicting your tiresome bull.

    Ashley loaned the club £29M and has taken back £11M so far. Compare this to previous owners who charged huge interest on their loans and also took large salaries. The latter approach is not uncommon in football.

    As for the Rangers merchandise, all we know is it was on the site for a short period of time and was then taken off. It could have been a mistake and are you suggesting for even a minute that a NUFC fan went to the website to buy NUFC merchandise and decided to buy Rangers stuff instead? Use your brain and explain to me how this could have cost the club any money.

  • 23 Douglas // Nov 16, 2013 at 1:10 PM

    Mike Ashleys life, reson détre, familly, being, whatever, is his child Sports Direct. He manages Newcastle United in a way that best suits Sports Direct. Free SD advertising is one example. I suspect the fact that our commercial income has reduced is because it is channeled to Sports Direct. In short NUFC is not his priority. SD is.

  • 24 ToonDarnSarf // Nov 16, 2013 at 1:14 PM


    Just because you might see things in absolutes, some of us like to look at all sides of the argument. I’ve got a view on that topic and suffice to say I don’t agree with what happened but nor do I believe the status quo could have been maintained.

    A bit like I don’t think Ashley is a good football club owner, but neither do I think he’s he devil incarnate.

  • 25 Jail for Ashley // Nov 16, 2013 at 1:14 PM


  • 26 ToonDarnSarf // Nov 16, 2013 at 1:15 PM


    So you are basically accusing Mike Ashley and NUFC of fraud? That somehow they have hidden this revenue diversion from the accounts? Yeah…that sounds likely…

  • 27 Jail for Ashley // Nov 16, 2013 at 1:26 PM

    Well your well balanced neutral views seem to always back Ashley up, no matter how small the storm in a teacup is.

  • 28 Jail for Ashley // Nov 16, 2013 at 1:34 PM

    Fraud ???
    What he’s saying is that NUFC is very much secondary in Mike Ashleys priorities and revenue that could be channelled our way is going to SD instead.

  • 29 ToonDarnSarf // Nov 16, 2013 at 1:34 PM


    If someone on here was saying that Ashley is a fantastic owner and Pardew could have taken over at Man Utd, I’d be arguing with them too.

  • 30 Edd Case // Nov 16, 2013 at 1:35 PM

    Financially, you have to say, looking back at that Andy Carroll deal…wow, MA got that one spot on..

  • 31 ToonDarnSarf // Nov 16, 2013 at 1:36 PM


    No doubt SD is his primary interest because it’s the bigger and more profitable company.

    But if he was channeling revenue from NUFC to SD it would show up in the accounts.

  • 32 Jail for Ashley // Nov 16, 2013 at 1:40 PM

    Not with a very good accountant, not with an Ashley owned company paying peanuts for the burger rights, the reduced revenue is going somewhere.

  • 33 JackButler // Nov 16, 2013 at 1:47 PM

    So can we now expect the additional revenue to be pumped back into the club/squad???

    Or is this now the time that Ashley starts to see the profit of owning NUFC apart from the free advertising for his grubby little retail company?

  • 34 Jail for Ashley // Nov 16, 2013 at 1:47 PM

    Edd Case,
    We’ll just forget about James Milner and the one point needed that got us relegated shall we, great business that !

  • 35 Jail for Ashley // Nov 16, 2013 at 1:51 PM

    Contrary to what a lot of people think of us with strong views on Mike Ashley, is that nothing would make me happier than to be proved wrong about the guy, but an eight year contract to a mediocre Pardew and the purchasing of players that aren’t necessarily needed but look to have a sell on price does not fill me full of hope.

  • 36 JackButler // Nov 16, 2013 at 1:58 PM


    We want what is whats best for the club, Ashley wants whats best for him and SD and yet there are some who still find a way to agree with everything that he does and has done no matter how damaging it has been to the club.

    Luckily we will all still be around long after he’s a gone though a hopefully a few on here will dissappear with him

  • 37 Ciaran // Nov 16, 2013 at 2:25 PM


    Find it hilarious how you of all people can talk about people with balanced views and an opened mind when you have the most one sided defensive approach and a mind so closed to criticising Mike Ashley that it renders your very opinion as ridiculous.

    You have never contradicted anything I have said, you just think you have. I think you’ll find no one takes you seriously here.

  • 38 Ciaran // Nov 16, 2013 at 2:28 PM

    Anyone else think it is utterly pointless engaging with TDS? He has proven himself to be one of MA’s puppets whether that is by choice or otherwise. He shows a detachment from club legends, and the views of a large proportion of fans that is alien to the very concept of a supporter and does nothing but attempt to justify the unjustifiable. By engaging with him we are fuelling his need for attention.

  • 39 daztoon // Nov 16, 2013 at 2:35 PM

    Here we go again lesh doesn’t even mention KK but the sad TDS has to mention him again.Not be long before he goes on about will people get over KK and stop bring him up he’s in the past.

  • 40 cyprus // Nov 16, 2013 at 2:41 PM

    Nice to see that there in the States everything is done so cleanly and the rich billionaire owners are so beyond reproach. Why, they pay for everything and even give back to the taxpayers! Why, let’s follow that good ole NFL model ;)

  • 41 cyprus // Nov 16, 2013 at 2:49 PM

    As you may know, the US is NOT a good example for emulating, in terms of sports teams. The so called teams or ‘Franchises’ can and do take their show and move it to another town if the locals don’t subscribe to the teams’ (and owners) whims. A bad deal with a ‘plasticky’ feel.

  • 42 The next Mike Williamson // Nov 16, 2013 at 3:15 PM

    At least we haven’t got Hull citys chairman. They lost £28m last year and he thinks changing the name to Hull City Tigers will rectify that. I’m wondering how many clubs are in deep trouble financially. Sunderland, Villa & Stoke must be losing a fortune.

  • 43 Jail for Ashley // Nov 16, 2013 at 3:24 PM

    It’s a murky affair footballing finance.

  • 44 Bambams // Nov 16, 2013 at 3:38 PM

    Ash has set Pards a target of finishing in the top 10, he does this and he keeps his job.
    Thats basically the outlook for our club in a nutshell.

    (source; current player. I wont be naming)

  • 45 Ciaran // Nov 16, 2013 at 3:42 PM

    He didn’t finish top 10 last season despite breaking some shocking records last season. Or are we to believe that Ashley gave him a stay of execution because MA knew he let Pardew down by not signing anyone other than Anita in the summer of 2012?

    Some chance.

  • 46 toonarmydownsouth // Nov 16, 2013 at 3:54 PM

    Seems we have one of these reports every season about how well were doing financially
    Shame the same can’t be said about the football

    Possibly the most consistent unconsistent team in the league

  • 47 John Tudor // Nov 16, 2013 at 4:00 PM

    ponzi guy in charge

  • 48 John Tudor // Nov 16, 2013 at 4:03 PM

    four flusher

  • 49 Magpies-till-d3ath // Nov 16, 2013 at 4:08 PM

    All these financial reports mean sweet f all if we’re still sitting in February with Remy, Cisse and Shola. Wouldn’t even mind if we only had three strikers, as long as Cisse and Shola are gone. Gomis for 1.8 million can’t be that much of a disgrace y’know! De Jong has failed BIG TIME. Watched him for a while last year and honestly, he was abysmal. Slow, gangly and utter useless. Might I suggest a young Lyon man, Alexandre Lacazette? What a player he looks in our native France. Hmm? Who Else?

  • 50 Jail for Ashley // Nov 16, 2013 at 4:08 PM

    Ameobi in the last year of his contract, Remy off to the club with the most money and a seriously unhappy Cisse, what’s the chances of buying three strikers next summer, extending Ameobi s contract could be classed as a new signing.

  • 51 John Tudor // Nov 16, 2013 at 4:09 PM


  • 52 Mister Tuff // Nov 16, 2013 at 4:17 PM

    Who is the master of takeovers of other businesses –errmmmm well eeerrrrmmmm. It’s clearly Mr Tubbs. All of this crud and tosh about due diligence – and him suddenly finding out the Toon had loans outstanding -what a load of rubbish. He will have known up front what all the finances were.
    By “creative” accounting it could well be within the realms to give a complexion as to what the correct finances are at SJP. By making sure that there are loans (continuing) and by lessening the true worth/value of the Toon (an example would be to positively keep commercial revenue down -by not adding advertising costs) would create “opportunities” to keep the tax bill down. Whether this would be of benefit to Tubbs AND/OR the club I do not know.
    The last time I tried to find out how many companies Tubbs owns/has an interest in -I stopped counting at 100 -he owns many more.

  • 53 Bambams // Nov 16, 2013 at 4:36 PM

    Also told the club is constantly ‘for sale’ but i think we all knew that anyway.
    Ashley is very uncomfortable around the players, for all he is a very good business man (his words) he is not very sociable at the training ground and always looks nervous whenever he comes into the changing room.
    Stated Kinnear is a decent bloke and does get on with the players, his opinion was ‘IF’ Kinnear wanted the toon job he would of already been made manager, he does not believe Kinnear wants it.

  • 54 Jail for Ashley // Nov 16, 2013 at 4:40 PM

    Mr Tuff,
    Good afternoon, does he own the company that has the franchise on match day beverages, Jayphoto once mentioned this was a clever way of making money without declaring it as NUFC revenue.

  • 55 Jail for Ashley // Nov 16, 2013 at 4:42 PM

    I think it was Jayphoto.

  • 56 ONLINE GUY // Nov 16, 2013 at 4:44 PM

    Each to his own but the way TDS defends Ashley and his regime he has got to be in Ashleys employ or one of his kin folk. What say you TDS ?

  • 57 lesh // Nov 16, 2013 at 4:45 PM

    Whoops….. Apologies for 11

    Until then…… Same $cheidt different * Christ*. What joy

    That should have read:

    Until then…… Same $cheidt different *season. What joy

    Given some folk said to have been offended at Saylor’s supposedly ‘racist’ tweet, my apologies to anyone on here’s who feels offended|

  • 58 Jail for Ashley // Nov 16, 2013 at 4:48 PM

    Online guy,
    He thinks Ashleys a rubbish owner who would be a kindly benefactor had we not have called him fat.

  • 59 lesh // Nov 16, 2013 at 4:48 PM

    Jail @53…. My guess would be that the catering side of SJP’s been outsourced and transferred to so some other company with the club’ll get a percentage of any takings.

    I can’t see Ashley pi$$ing about with such a small side to the business.

  • 60 ONLINE GUY // Nov 16, 2013 at 4:50 PM

    I can never find it in my heart to forgive Ashley for ripping down the St James’s Park lettering, unceremoniously, with no respect for the fans thrown in .

    .He really could not give 2 F**ks about the fans. He proved it that day he tore it down, changed the name on a whim..what a Bast**rd …All that History all that heritage.

    He needs to realise.. we are the club.

  • 61 KevinHann // Nov 16, 2013 at 4:51 PM

    Hey there, guys!

    I see with the lack of Newcastle related news during the international break the usual stall to anti and pro Ashley discussions is in place again :)

    Do you think if France don’t make it to the World Cup it may actually have some positive influence though? I’m as concerned about the drop in motivation in our French camp as much as each one of you but it may also allow us to keep hold of the core of the team beyond the next summer and if Pardew can channel the frustration the lads may actually perform better than we expect after the initial disappointment (as we are currently in a pretty good position when you think of it).

    It is way too early to get excited but our schedule gives us a wonderful window of opportunity to at least make December a very, very passionate month once again and while most of you are slating Pardew I can’t completely ignore the fact he is the first since sir Bobby Robson to replicate the emotions I experienced in the early 2000′s.

    I am enjoying your banter even though I don’t post here often. As a matter of fact these very discussions have inspired me to look for a fan-based angle while writing my own FM14 story. I would be curious to hear if you feel I have managed to catch the general North-East sentiment surrounding our beloved club – if you don’t have anything better Newcastle related to discuss right now, please take a look and let me know how you find it :)

  • 62 lesh // Nov 16, 2013 at 4:52 PM


    If your inside info’s come from a current player, then we can safely assume that he’s an English speaker and that narrows the field down a bit!

  • 63 ONLINE GUY // Nov 16, 2013 at 4:55 PM

    Jail , TDS might have the inside track on Ashley . touchy subject this Fat thing. haha

  • 64 Mister Tuff // Nov 16, 2013 at 5:03 PM

    Jail – afternoon -I’m not sure about the company who has the franchise for beverages/refreshments at SJP. If you know their name it would be easy to find out.
    Tubbs and his team are not amateurs in making money -that’s for sure or maximising profit. All I would hope for was that the Toon as a club were not denuded of monies that it “earned ” as it gives a false account of it’s true worth -although we all know that in effect the club is owned by Tubbs and effectively he can do what he wants. The conspiracy theorists would have nothing to base their arguments upon if the clubs finances were truly transparent -they are clearly not. Having all these differing companies involved with the Toon – is not a mistake but they are there for a purpose -which by design or error creates the suspicion of financial impropriety.

  • 65 croftus5678 // Nov 16, 2013 at 5:14 PM

    ashley is our owner and we have to accept that fair enough.

    he only cares about money for himself and wants the club to pay its own way again fair enough.

    and i really cant argue with how he’s achieved that with us making a profit every year now and only getting stronger by the season.

    i also can not critisize the signings for bargain money and the fact we could have spent 4 or 5 times as much as we have done and still not had a good a team as we do now.

    but the free advertisement he’s getting when that would surely generate another few million onto our top line hence making us compete a bit more for the top 6 is very disheartening :-(

  • 66 Ciaran // Nov 16, 2013 at 5:20 PM


    Last year was the first year we made a profit. Look at the charts above, we were making substantial losses. Our matchday revenue is down and our commercial revenue is down. The only revenue stream to increase is TV revenue, and Ashley has had nothing to do with that.

    However, a mid-table PL club should (and likely is) making much more money commercially than is being declared, so where is this money going?

  • 67 croftus5678 // Nov 16, 2013 at 5:28 PM


    the money is prob going in ashleys pocket m8 :-)

    and yes i know about the profit was only last year but it has continuinly improved with ashley when the previous 5 years before ashley was a slow decline (not that it means fk all to us fans tbh its just i have to be fair and not biased)

    we will know for sure whats happening at the end of the season when figures are released as if we dont have atleast 25mil over the 1.4mil profit we have concrete evidence he’s screwing us over !

    personaly i’m bricking it that he will not release any money for signings in jan because i think he’s thinking we only have the 1.4mil to spend as tv rights ect aint in the bank yet !!!

  • 68 remember69 // Nov 16, 2013 at 5:39 PM

    Ciaran et al,
    We should appreciate that TDS, Lesh etc can see the whole picture and apply logic to your pithy complaints. Everything you post is negative – I can understand you have the right tomyournown opinion but please don’t name-call others when they point out flaws in your arguments.
    At the end of the day Ashley bought the team, loaned 100 million out of his own pocket and has every right to make the decisions he wishes whether you and I like it or not.
    And no, that does not make me an Ashley lover, I would point out the same shortcomings if others posted he is the best thing since sliced bread..
    I do say I have to appreciate the fact that the club is getting stronger financially, and to be fact that AP is keeping the team ticking with only a portion of the investment that other teams have made.

    Keep the faith lads, keep the faith.

  • 69 Ciaran // Nov 16, 2013 at 5:46 PM


    Do be quiet.

  • 70 remember69 // Nov 16, 2013 at 7:43 PM

    How true to form – thanks for confirming the fact that you are unable to handle viewpoints that don’t match your own.
    Try opening your eyes and life would be so much better for you my friend – you have to look at bith sides of facts, not just the side that matches your own agenda.

  • 71 j127430 // Nov 17, 2013 at 6:38 AM


    Ed – profit isn’t the same as cash. Just because we have profit doesn’t necessarily mean we have cash in the bank to buy players.

    If you haven’t already, probably worth a read of the articles in true faiths latest issue. The one written by me (lee watson) unfortunately ends in a bit of a cliffhanger but could explain why we didn’t have any cash to spend despite the new tv deals. Yes this will improve the bottom line profit but the cash may have gone to pay off debt…..



  • 72 Jeff from Benwell // Nov 17, 2013 at 4:48 PM

    Lee @ 71
    Your article ends in a cliffhanger because you are fluent in gibberish and don’t know wtf you are talking about.
    Bloggers with names like “Jail for Ashley” just make you wince and make one wonder what outsiders must think of Geordies.

    NUFC is in its 3rd year of avoiding Corporation Tax and this fantastic situation is due to Mike Ashley not you 2 nuggets.

  • 73 j127430 // Nov 17, 2013 at 5:22 PM


    I believe that I do know what I’m talking about.

    The club hasn’t paid any corporation tax due to accumulated losses from earlier years being set off against the profits made in the last two years. Simple.

    If you think its ideal that we simply don’t pay tax then you don’t know what you’re talking about.

    If you are unclear on my article, please point out which parts and we will have a sensible debate.


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