It was a strange day indeed yesterday for Newcastle United, as they released what on the surface were stellar financial results with record revenues of £129.7M and record profits of £18.7M, but the odd thing was the talking point was that there was close to £30M costs for last year not yet accounted for in the high level figures that were released.
Mike Ashley – out of touch with what fans want and need
More detailed figures are needed, and there are a number of areas where the extra costs could have been incurred – like paying for the new (world-class) Benton Training facilities, although none of the £129M loan from Mike Ashley was repaid by the club.
Sadly that would indicate Ashley has not plans to leave Newcastle any time soon.
The many questions now being asked by fans is how with an increase in revenue of £33.8M, we made only £9.8M more in profit in this financial year, than we did last year when we made £9.9M.
Newcastle are 3rd in the Premier League Money League in terms of profits behind Everton at £28.2M and Manchester United at £23.9M.
And there is a hint that Newcastle took some extra costs to keep the profit down, after not buying one single player in the last financial year and selling Yohan Cabaye for a hefty £20M.
Note there is nothing illegal here, and financial figures can be manipulated by taking costs when you are flush with cash.
Yet when we look at where Newcastle are in what really matters as a football team – in the league and in the cups – we are nowhere.
Newcastle are currently in 12th place in the league and struggling in 2015, when we have won only 2 games in 12 and lost seven of them.
And we are likely to be overtaken by both Everton and West Brom in the final eight games of the season unless we can start winning some games.
And in the cups we were beaten again in the 3rd round of the FA Cup but it wasn’t by a lower league side this time around.
That has happened three times in the last five years, but this season we were beaten by Leicester City, who are rock bottom of the Premier League and almost certain to be relegated.
So on the playing side of things it is not good, and Newcastle are paupers when it comes to how good we are on the pitch.
We dare say that if Newcastle’s football fans were bankers they would have been happy at the results released yesterday.
But they are not, and some of the most passionate football fans around have been starved of success for far too long, with an owner who isn’t bothered about winning trophies – only about making money.
And that’s why we still have a big problem at Newcastle, and there is a huge disconnect between the Billionaire owner and the Geordie fans.
There is a huge gap – and it’s called ambition.
Unless Mike Ashley changes his ways or sells the club to somebody who vows to take Newcastle back to where we belong in the top reaches of the Premier League – we are in trouble – however much money we make every year.
That’s the big problem at Newcastle – the management is out of touch with their customers – and that’s never good.
Note: Mark Hammell is an avid reader of the blog and he has signed up for 7 endurance events totaling over 600 miles, after he has just recovered from a serious ACL injury.
Mark is doing this to raise money for the Sir Bobby Robson Foundation. Here is Mark’s Justgiving page – see if you can help him out and help Bobby’s Foundation.
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