The College Dropout

The rate of growth YoY is currently so high in large part down to the underdevelopment of Ashley. Unless the owners change tact the rate of growth will slow - rapidly. You might think we are trending towards £504m commercial revenue in 5 years but I don’t think the club share tbat opinion as things stand. Where do we get the next 40% from? The biggest ticket items are signed up for the next 4-5 years. And then the next 40% after that? Basically this. Continued 30% growth YoY is unsustainable with our current approach. This year is CL and Adidas money. How are we getting that growth this season? £27m is gone from the CL.

I'm not impatient. I'm perfectly happy to have 7th highest revenues forever and try our best with that. But when we have to sell our best players, or barely improve the squad in future windows, I won't moan or cry, I'll take it on the chin because that's what our financial position has been heading towards. I'll expect you to do the same.

"That is a record high but, for comparison, Manchester United’s most recent commercial revenue was £302.9m – which shows just how far Newcastle have to go to catch them up. Matchday revenue, meanwhile, is predicted to be £40m – again, a new high but also less than half of the Red Devils’ £100m plus figure. While commercial revenues have also ballooned thanks to Adidas deals and Champions League participation, that is largely driven by a huge profit on player trading. That continues to apply now, with Newcastle sources suggesting any incomings will need to be offset by some outgoings to ensure they don’t face another scramble at the start of the summer to comply with PSR." It's good but it's not enough. The revenue we have requires sales to fund new signings. My point stands - unless we significantly increase our revenues. We will need to sell our best players in an attempt to improve the squad. We need £100m of recurring revenue.

£7.5m on wages before bonuses, appearance fees etc. for a GK might be prohibitive like.

No - the 3 years don't matter that much. The costs are spread out so if you have a big issue in one 3-year period you will have a big issue in the next rolling period too. Amortisation and wages carry over year-to-year. The only way to get back in the green is to heavily increase revenues or heavily reduce costs (wages and high amortised players). Everton & Wolves have been cost reducing for years because the salaries were at a certain point that's too high. We paid decent wages pre-takeover (top 10 IIRC). Since then we've added Trippier, Isak, Gordon, Bruno, Tonali & Joelinton on BIG salaries. Players like Wilson and Schar would've been on v. decent wage to start.

Slightly broader perspective - Spanish financial rules might make Dani Olmo a free agent. The PL masses are fine.

These rules are only super bad for the 8 or so clubs in the red or close. And only 7 of them are in the division. The rest are happy to suppress wages and fees. While being way too rich for every other league in Europe.

People need to stop saying this. It won't. The revenues of PL clubs are still considerably higher than other European leagues. West Ham wage bill is higher than every La Liga team except the big 3. Our wage bill would be 3rd/4th in Serie A. And at the very top end. Liverpool, Arsenal & Spurs do not aim to compete with Real Madrid. If Liverpool wanted to compete with Real Madrid they would pay TAA the comparable wages or close.

And this is why what happens off the pitch is as important as what happens on it. We need +£100m ARR to appear asap.

Nah. It doesn't benefit Chelsea which is why they are doing all kinds of loopholes. PSR is fine for the top 6. It gives them loads of wriggle room compared to the old system.

Money talks. The very best have always picked Real and Barca over the top 6. But they can compete with the rest. And because of their finances they can beat the rest more times. Non-elite CL sides are getting their best players picked up by Bournemouth and West Ham. It’s not an issue atm.

The sad fact is the PL 14 is the actual cartel against the rest of the football pyramid. The PL keeps the revenues high and PSR keeps the costs down. The red top cartel is supported by the rest and it used to include us.

Top 6 clubs still have the run of players in Europe beyond a few elite clubs. And PSR isn’t the reason they lose out to Real Madrid. PL buying power for the top 6 and most of the league still outstrips European competition. It just keeps costs down a little which is a bonus for owners. I don’t think English clubs not doing well in Europe matters. I think English clubs have won 5 CLs since Istanbul. Real Madrid alone have won 6. The PL is bigger than ever and RM will always be RM. Most PL clubs don’t want the competition that an upper limit would bring. Most PL clubs would be loved Forest to have gotten relegated. Forest beat the system. Spent their way to PL security. PL clubs want Ipswich and Southamptons. Go up and go down. nothing of the magnitude we need. We need to get to 400m revenue asap.

If we qualify for Europe we really do need some major commercial deals.

It was obvious in ISAK’s first season that Terry Gibson and the naysayers were wrong.

Thy are in no danger of falling foul of PSR. They don’t need the 20-50m.

He scored those couple big goals early in the season too. Super Cup and Charity Shield.

Was really good. As was Tino.

Beautiful passing. Well done Dubs.

Yeh he bossed it today. Him and Bruno clicking in midfield is the sexiest thing I’ve ever seen. At about the hour mark he got back in the ball and just took the sting out the game.

This is modern managers and it’s shit.

God McClaren was absolutely awful. Couldn’t motivate a Pitbull. Amorim made some terrible selections today. But that squad is awful. It’s worse now than last season. It’s worse than the one ETH inherited.

Some interesting man to man marking in open play. Worked tremendously well. My only criticism is I think we could’ve seen out more of the game with the ball. But we were away from home. We had more ability than them out on that pitch.

Aye Man U were shit. We were brilliant mind.