The financial results for the last financial year (July 1st 2013 through June 30th, 2014) are expected to be announced nay day now and those figures will show Newcastle highest revenues ever (around 129.5) and highest profits – something north of £40M.
Lee Charnley and Mike Ashley
Come on Lee – get with it!
The revenues already have us in 19th place ion the Deloitte Money League, although we were as high as 13th during Freddy Shepherd’s time at Newcastle on revenues of around £100M over ten years ago.
The local papers were reporting that the results would be announced last week so what’s holding them up?
Maybe a good explanation for why the profits are so big?
Maybe Newcastle’s explanation for how come we didn’t spend any money in January and therefore have a threadbare squad for the rest of the season when money was available to spend?
We had the money available if we wanted to invest in January we just didn’t do it and made £10M in the January transfer window and we even essentially sold our manager Alan Pardew to Crystal Palace.
Lee Charnley made a good point in the last Fan Forum meeting nine days ago, when the Board said they would try to do all their transfer business each summer, because the January transfer market is a difficult one, being half way through the season.
Hopefully that will include not selling out best players then and nor replacing them, which has caused us problems in the past.
The (very) good thing Mike Ashley has done at Newcastle is to put the financials in order, and somehow the owner has to realize that’s all well and good, but if sufficient funds are not invested back into the playing squad, it doesn’t mean too much.
What’s the point of making £50M profits a year and still being 10th in the Premier League?
The impressive financial results should hopefully come with a statement that Newcastle will invest more in the playing squad in the future, and hopefully that will start this summer with Newcastle having an active transfer window and bring in a number of new players.
Because we did no business at all in January and the squad is obviously too small with all the injuries we pick up each season, the expectation is it will be a good transfer window for the Magpies this summer.
But we also need to keep our best players and not sell them, because as we’ve seen, it takes time for new players to settle in, however good they are.
Note: An avid reader of the blog Andrew Foley is participating in the Great North Run for a charity named Tommy’s, which is a charity that funds medical research into the causes of premature birth, stillbirth and miscarriage.
See if you can help Andrew reach his goal of £400 by donating on his just-giving page here.
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