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 – 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.
|Financial Year||Deloitte ML|
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.
Note: Will Leversuch is a final year University of Greenwich student conducting some research into the marketing of Premier league Football Clubs. As part of that work Will needs lots of questionnaires filled in – see if you can help him by filling out this short questionnaire – thanks.
You can follow us on our three social media sites below: