Mike Ashley took a hammering a year last January when he refused to bring in players like Andros Townsend and James McCarthy that would have ensured promotion.
That was the financial year when we were in the Championship, and fans have just learned Newcastle lost a massive £90M.
And that could well trigger an EFL Financial Fair Play inquiry into Newcastle’s finances because we lost so much money.
There are consequences financially, and we will still be feeling the pinch (just) a little this summer.
But Newcastle will have a decent current financial year which will end on June 30th, and we will get a massive £123M from the Premier League for finishing in 10th place.
Mike Ashley and Lee Charnley – they look worried
Mike Ashley has come in for some withering criticism over the last 18 months for not supporting Rafa in the transfer windows, but this explains to a large extent why he was so cautious.
And you have to give it to Rafa and the players for what they have done in the last couple of years with little money to spend.
They have done magnificently including this season in finishing in the top half of the Premier League.
Think of the pressure Rafa was under in the Championship to get us promoted immediately – and he took it in his stride – he’s a magnificent manager.
Rafa will get enough money to spend this summer in comparative terms.
The figures rumored are that he will get at least £50M plus anything he can get from selling players which could add another £40M to the transfer kitty.
But now we know just how strained financially Newcastle have been over the last couple of seasons.
Last year’s events prove what a financial disaster it is for a club to be relegated from the Premier League.
The club has done extremely well to get where we are at the moment and from now on it should be plain sailing.
That’s the good news.