It looks like yesterday was when Lee Charnley went to meet with Mike Ashley to report on just how Newcastle United – after spending a massive £82M in the transfer market on new players last season – managed to get relegated and tragically miss out on the £150M we could have received from the new TV rights deal from the Premier League next May.
Instead, we will now get £2.5M from the Championship, but Newcastle will also get a parachute payment of around £40M from the PL next May – it will be 55% of whatever we get from the Premier League this month.
Lee Charnley with Mike Ashley
That means at least financially we will be in much better shape than when we first relegated from the Premier League seven years ago.
George Caulkin of The Times is reporting:
Lee Charnley met Mike Ashley at Sports Direct’s HQ today for annual debrief on #Nufc season. Some hard questions for MD after relegation.
— George Caulkin (@CaulkinTheTimes) May 17, 2016
So we wonder what will happen with the top executive at Newcastle, who has cost his company about a cool £100M in the next financial year?
Well, surprisingly it looks like he could stay in place, although Chief Scout Graham Carr, his partner in crime, is said to be leaving the club this summer.
One reason Lee may keep his position is that he seems to get on very well with Rafa Benitez.
Rafa says he gets on well with Lee – maybe that’s only because Lee does exactly what Rafa tells him to do?
But if Lee stays on he will have no real power (thank goodness) with Rafa basically running the cub – which is the only reason the Spaniard will stay on at the club he calls massive and a sleeping giant.
Well that and the fact that the Geordie fans just simply love the man.
I can tell you from real experience in the world of business that an executive as incompetent as Lee Charnley would not have lasted this long given the gross incompetence and arrogance he has shown over two years as the top executive at Newcastle United.
If he stays, it also shows that those who are killing the club under Mike Ashley, are not being held accountable and remember his incompetence has also cost the jobs of a number of the non-playing staff at the club.
That’s simply tragic.
A well-run business always hold those running the organization accountable for their decisions.