Rangers Issue Statement Correcting LLambias’ Newcastle Record

Derek LLambias’ bio on the Rangers FC was not accurate and there were misleading statements on the site about how he grew the revenue, and we published an article where we had graphs and tables showing the Newcastle revenue and profits,  and also where Newcastle were in the Money League (issued by Deloitte every February), for the five years that Derek LLambias was the Newcastle Managing Director.

derek llambias arrives at glasgow airport last night

Derek LLambias – former Newcastle Managing Director

Here’s the short bio on the Rangers FC web site:

“Derek joined Newcastle Football Club in 2007 as Vice Chairman and Managing Director and in his 5 years stewardship he reformed and improved stadium facilities, expanded commercial activities giving N.U.F.C. an increase in turnover from £85M to £123M.”

“He took the club which was making significant losses to one of the top 20 most profitable clubs in Europe.”

And this is the statement that Rangers FC have released to put things right:

“Derek Llambias joined NUFC in 2008. He initially joined as Deputy Chairman and was appointed as Managing Director in June of that year.
“In the financial year ended 30 June 2009 (the first full accounting period after Mr Llambias’ appointment), the turnover of Newcastle United Football Company Limited (“NUFCL”), as recorded in their audited accounts for that period, was £85,681,000.

“Derek Llambias resigned from his post as Managing Director of NUFC in June 2013. The turnover of NUFC for the financial year 30 June 2013, as recorded in their audited accounts for that period, was £95,879,000.

“The figure of £123 million referred to in the Circular was the projected turnover, as at the time of Derek Llambias’ departure, in the financial year to 30 June 2014.” “In the Deloitte “Football Money League” report for 2011/2012, published in January 2013, Newcastle United were ranked at number 20 in Europe.

“Newcastle United were also ranked at number 20 in the Forbes list of the richest football clubs in the world, published in April 2013. These were the last rankings published during Mr Llambias’ tenure at NUFC. (Although the Club dropped out of the top 20 in both equivalent lists published in 2014, the Deloitte “Football Money League” report for 2013/2014, published in 2015, ranks NUFC at number 19.)”

“Newcastle United did appear in the top 20 of both lists at the start of Mr Llambias’ tenure, although dropped out during the intervening period. The Directors believe that is predominantly due to NUFC’s relegation in 2009.”

“Neither of the aforementioned reports ranks clubs solely on the basis of profitability. It should be noted that in the year to 30 June 2008, NUFC made a loss attributable to members of £20,048,000, and a loss of £14,554,000 for the year to 30 June 2009. In the year to 30 June 2013 however, NUFC made a profit attributable to members of £8,814,000.”

And here are some of the figures that support Rangers’ statement.

nufc revenues

NUFC Profits

Financial YearDeloitte ML
2009-2010nowhere near

What we did point out that Derek did a good job on cost controls as can be seen on the profit graph above – he brought the costs under control in the season we spent down below after being relegated in 2009.

It’s good that Rangers issued the statement to clarify things.

Comments welcome.

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78 comments so far

  • Dutchmag

    Feb 27, 2015 at 2:03 PM

    Comment #1

    Frank DeBoer just confirmed he will be at Ajax next season.

  • catchy in norway

    Feb 27, 2015 at 2:06 PM

    Comment #2

    do people believe this shit

    Ed and a few others might

  • catchy in norway

    Feb 27, 2015 at 2:10 PM

    Comment #3

    a lot of our proffit is down to TV money, so im not sure how much of a hand big dick had in the TV negotiations

  • optimistic prime

    Feb 27, 2015 at 2:16 PM

    Comment #4


    Dekka did such a great job were lower in the Deloite table and further in debt than when he arrived.

    Top job!

  • Rotonda heights

    Feb 27, 2015 at 2:20 PM

    Comment #5

    dekka’s casino business failed, so in ashley world
    another vile ” do they know how nasty we can be ” individual nailed on for MD, not once but twice, a la jfk!!

  • Rotonda heights

    Feb 27, 2015 at 2:22 PM

    Comment #6


    dreaming if we ever really thought he was coming to this asylum

  • Transfer Sage

    Feb 27, 2015 at 2:23 PM

    Comment #7


    Agree there. Our turn around is due entirely to tv money which the club have nothing to with negotiations wise.

    The only thing ashley has done on that front was be in charge when we were relegated which could have meant missing out severely on tv money increases.

  • sickandtired

    Feb 27, 2015 at 2:24 PM

    Comment #8

    Pity the graphs leave out 129 million of Ashley’s debt. They wouldn’t look like that if we were paying down debt in the normal manner. Debt that would be reducing let’s not forget.
    The profits for 11/12- 12/13 were only there because of the Carroll and other player sales. Absolutely nothing to do with Llambia’s or Ashley’s commercial wizadry.

  • Ibizatoon

    Feb 27, 2015 at 2:24 PM

    Comment #9

    Say what?!?

    Lies? Surely not. What a sad day, another hero disgraced.

    Derek, tell me it ain’t so!

  • Rotonda heights

    Feb 27, 2015 at 2:27 PM

    Comment #10

    carver says villa will have the new manager impetus. where’s ours then john?

  • Ibizatoon

    Feb 27, 2015 at 2:30 PM

    Comment #11

    Rotonda…He’s just “head coach” 😉

  • Dutchmag

    Feb 27, 2015 at 2:32 PM

    Comment #12

    We have new manager impotus

  • geordie157

    Feb 27, 2015 at 2:43 PM

    Comment #13

    De Boer is staying with Ajax, he’s signed a new contract. Hoping it’s either Tuchel or Garde we get in.

    Think McLaren would stay loyal to Derby regardless of if they go up or not.

  • Mister Tuff

    Feb 27, 2015 at 2:45 PM

    Comment #14

    Fans Forum next week – I’m looking for some scorching and forensic questioning by those on the forum.
    No more and insipid and quite frankly inept and irrelevant questions.
    Quality questions with probing follow up questions.
    Questions about a singing section maybe put on the back burner until more important maters are addressed.

  • Jeff from Benwell

    Feb 27, 2015 at 2:47 PM

    Comment #15
  • Jeff from Benwell

    Feb 27, 2015 at 2:52 PM

    Comment #16

    Mister Tuff
    What sort of questions ?
    Give us some examples please.

  • lesh

    Feb 27, 2015 at 3:11 PM

    Comment #17

    De Boer’s decision to stay with Ajax comes as no surprise. Would anyone with any credibility or ambition ever be impressed with the conditions attached to the HC role?

    Would anyone with any credibility or ambition ever be impressed with the fact that players are liable to be sold at the drop of a hat?

    Would anyone with any credibility or ambition ever be impressed with a board that’s shown no ambition to win things?

    I think that Garde’s recent comments were such that he’s saying nothing because he’s been approached, said no and has been asked to say nothing. If he really wanted to join us, he could have done so in January with the proviso that the backroom staff he wants would be brought in in summer.

    Like it or not and given the pro-Carver spin from SJP, don’t be too surprised if we end up with Carver, supported by ‘arry Rednapp.

    Great stuff eh? Maybe we look forward to being in the ECL in the season after next??

  • JDdubai

    Feb 27, 2015 at 3:27 PM

    Comment #18

    Have to disagree Lesh, McClaren or Garde for me – think Garde want s to come but has various issues that can be fixed in the summer

    He wanted to wait til summer, fair play to being strong to stick to his decision. For all your assumptions that he turned it down and was asked to say nothing, maybe the reason he is waiting til,the summer is because the club have agreed to it, thats why he is non-commital.

    Who really knows tho..

  • JDdubai

    Feb 27, 2015 at 3:33 PM

    Comment #19

    Also I still think that if we had a fully fit squad, and i know that it probably wont happen in my lifetime, but if we did then we are only a top CF and CB away from a top 6 challenging side – maybe a backup fullback as well.

    The current squad, including a fit SDJ, Aarons, Tiote, Saylor, etc – with a good coach who can get them orgnaised, fluid and playing properly then I dont think we are far off. Its the poor coach that is the biggest issue for me.

    Im ready for the inevitable mocking that will follow.

  • Mister Tuff

    Feb 27, 2015 at 3:33 PM

    Comment #20

    Now then Jeffrey – why do I think you have asked your question – perhaps to “set me up” later.
    The art of questioning in the circumstances the forum finds itself in (the official side no really wanting to be their and probably going against the original principles that UEFA intended) needs to be more cunning. So what may appear as a daft question draws a response which acts as a line in the sand which can be subsequently challenged pursued later- perhaps with the emergence of further/later infromation.
    The FF already pursued the neary £500000 from NUFC accounts to SD – the explanation was about bulk buying for the club shop and wharehousing. On the face of it -seems fine. Follow ups shoud be to see ORIGINAL documentation for the goods purchased to that value coming back the other way.
    Another would be in respect of the loan when a response was obtained at the forum to the effect that the loan was beneficial. A follow up should be -beneficial to who -the club, Tubbs and to what value.
    To folk sitting on these types of groups it an initially be daunting -being in the main laymen but experience with time can be obtained so they have more confidence to ask probing questions.
    There’s two questions for starters -what would you ask?

  • Mister Tuff

    Feb 27, 2015 at 3:34 PM

    Comment #21

    error their =there.

  • Charlie in the Gallowgate

    Feb 27, 2015 at 3:41 PM

    Comment #22

    looks like Cabella is out to mid march according to physioroom.com

  • Brazilianbob

    Feb 27, 2015 at 3:44 PM

    Comment #23

    The reason Garde is saying nothing is because of the confidentiality clause/payment. The club have done this before. Candidates have to agree to keep quiet if interviewed.
    If they get the job when the club announce their decision in the summer then fine, if not and they have not broken the confidentiality clause then they receive a nice fat bonus as a reward for their silence. That’s why Garde is saying nothing out of deference to nufc, It’s not that he’s got the job he’s just protecting his interview bonus.

  • lesh

    Feb 27, 2015 at 4:00 PM

    Comment #24

    JD, I guess we’ll just have to wait and see who rocks up – or is formally appointed HC after avoiding relegation and doing a job under very difficult circumstances.

  • lesh

    Feb 27, 2015 at 4:01 PM

    Comment #25

    Hey Brazilian, you must be our new Itk?

  • Jeff from Benwell

    Feb 27, 2015 at 4:22 PM

    Comment #26

    Mr Tuff
    I only asked because (as you have said ) there seems to be some pretty inexperienced and naive (trying to be polite) folk attending these forums.
    Then lo and behold your remark about beneficial loans reveals exactly the naivete I was concerned about.
    A beneficial loan’s parameters are clearly defined in the UK tax laws
    This may help
    It is quite a minefield
    The bodies concerned could do with hiring some professional help.

  • Lindisfarne

    Feb 27, 2015 at 4:22 PM

    Comment #27

    Are they so shite at asking questions to potential candidates that they are scared of being shown up?

    Nice non-work if you can get it.

  • Jeff from Benwell

    Feb 27, 2015 at 4:34 PM

    Comment #28

    Mr Tuff
    Whoops sorry
    I forgot that site is for members
    Try this

  • Mister Tuff

    Feb 27, 2015 at 4:35 PM

    Comment #29

    Jeff – in reply.
    I think most of the folk on the FF have put themselves forward with the most honourable intentions and I would not question their motives.
    However, after reading all the FF minutes there are clearly a couple who are asking some good questions but on the other hand there are some who are asking some absolutely pointless and useless questions – probably of no use to anyone.
    In respect of the loan – we need the club to reveal the details although we know it is for tax purposes.
    I should add that an old hero Bobby Moncur sits on the forum as a shield against “the board” – no longer a hero but a Judas.

  • JamesToon

    Feb 27, 2015 at 4:37 PM

    Comment #30


  • JamesToon

    Feb 27, 2015 at 4:38 PM

    Comment #31

    Remi Garde and Thomas Tuchel 2 top choices now

  • Moonraker15

    Feb 27, 2015 at 5:09 PM

    Comment #32

    Thanks for that gem of news to end speculation but there was no speculation for anyone that knows our set-up, De Boer wouldn’t come near SJP and I think when Garde knows the full job spec, nor will he. I fear the only realistic candidate is Carver unless Fat boy has a big change in policy!

  • BandB

    Feb 27, 2015 at 5:21 PM

    Comment #33


    Daft questions always work the best.

    Innocent, harmless lines of inquiry, drawing down the guard and leading to sneering, over-confident answers.

    Columbo made a career of it.

    As have I.

  • DokToon

    Feb 27, 2015 at 5:55 PM

    Comment #34

    we’d be lucky to get an MLS coach about now…

  • lesh

    Feb 27, 2015 at 5:55 PM

    Comment #35


    I don’t think the Club’s going to be able to pick and choose a good Head Coach.

    The Club’s reputation has reached the floor under Ashley when all news is either negative or controversial.

    Would you apply to join such an employer where you’re contribution is to put up with being dumped on every transfer window?

    Instinct tells me we’re gonna be stuck with Carver – unless he walks before his credibility’s ruined altogether!

  • Marty-Toon

    Feb 27, 2015 at 5:58 PM

    Comment #36

    Can see Villa coming at us tomorrow and our fans being kept quiet because our lads can’t put three passes together.
    We don’t dominate midfield and don’t hold enough of a threat going forward.
    Hopefully Rayls and Abeid get a fame and show a steady game for us.
    Obertan and SAMMY are good and direct and will give us more of a threat.
    Again though,most teams that can’t buy a win usually can come to us and get three.

  • lesh

    Feb 27, 2015 at 5:58 PM

    Comment #37


    There’s theme that can ask seemingly daft yet cunning questions and there’s theme that can only ask daft questions.

    Of course you are in the former group.


  • jesperfuglsang - capt'n awesome of the lemon crew

    Feb 27, 2015 at 5:59 PM

    Comment #38

    BB…are you sure Newcastle has held an interview with Garde?…or for that matter anyone 😉

    …maybe they have put their finger up in the air trying to feel the temperature, but that doesn’t constitute an interview!

  • Mister Tuff

    Feb 27, 2015 at 6:01 PM

    Comment #39

    BandB indeed – softly softly catchee monkey.
    Lulling clever dicks into a false sense of security due to their arrogance and then unexpectedly pouncing to win the day.
    I also made a career of this.

  • BandB

    Feb 27, 2015 at 6:14 PM

    Comment #40


    This, oddly, might be one you could solve.
    Garde said he wanted to stay “integrated” with the leaders at Newcastle.
    Integrated and leaders.
    Odd words.
    I wondered if he was saying only that he was going to act with integrity not breech confidentiality.
    And that, as someone else has pointed out, could be nothing more than an undertaking not to reveal that he isn’t interested.


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