Newcastle United Finances - 2008 Accounts Recently Filed

[Guest Stephen927]

Does the club still have to release these even though Ashley took it private? [/financialn00b]

insofar as i understand its still a limited company just not listed on the stock exchange

 

Ahh, cheers.

[Teasy]

We'll see.

 

50,000 crowds in the championship with premier league parachute payments and zero transfer budget and still no profit?

 

It amazes me football can survive as the money drain you seem to think it is?

 

Most Football clubs can't survive without extra help.  We certainly can, but not when we're in the Championship and still paying wages that are high for most Premiership clubs (also remember the money we got for players sold is paid to us in staggered installments, we'll still be getting that money next season and probably the season after that).  Big crowds and parachute payments is a great help but until you look at all the costs it won't tell you anywhere near the full story about our current financial situation  Once the latest set of accounts come out we'll have a good basis for comparison though.  As that will tell us what position we were in before we lost Premiership revenue and cut our wage bill.

 

By the way I didn't say there was no chance at all of any kind of profit by the end of the season, just that I'd be suprised.  What I don't believe there's any chance of is the kind of profits you and the NUST are mentioning.

[quayside]

Yes - correct. They were submitted early last year, probably for PR reasons to justify what happened in the transfer window.

 

Got to admit i am struggling to see how we could make a profit though.

i cant see any way we're making profit this year reduced income wages while lower still are a huge percentage of our current income

 

We arent talking this year, the accounts would end on 30 June 2009

even then i cant see a profit for last season our wage bill was 60-70m last year by estimates in papers and our income usually lies around the 80-100m mark in the prem and there are other bills that need to be paid

 

There will be a fairly hefty profit on sale of players in the 2009 accounts. Milner, Given, Zoggy all went out in that period. So you would expect a profit of about £25m going through the P&L in 2009 on player sales. So if the rest of the club business lost less than that then there's an accounting profit on the way. But as has been said a few times on here the cash position is the real barometer and not the P&L.