macbeth Posted January 24, 2009 Share Posted January 24, 2009 I don't time, or will power to read through lon posts to see what has been said elsewhere so..... I've had a go at trying to analyse the latest financial results at http://www.football-finances.org.uk/newcastle/2008/ It is difficult to separate out who is to blame for what, if that is what people are looking to do. The key issue is the wages the club is paying. The vast majority of the player contracts, and therefore their wages would be in place before Ashley bought the club, so it is unfair to blame him totally for the 10% rise in that. That our wages are £25m (55%) higher than Everton shows we have something wrong somewhere. The summer signings in 2008 look to have been totally balanced by sales (to within £5000 !!!) which highlights Ashley's reluctance to spend money that isn't there. The loss for the year of roughly £20m has had to be found from somewhere, and Ashley has put that money in. This is money just to stop the club going into administration, and is of no benefit to the quality of the first team squad. Employing Chris Mort as chairman cost the club about £300k more than it cost to have Shepherd and Douglas Hall do the same jobs the previous year. In the last year of Shepherd/Hall the club lost £34m (thirty four million), the first year of Ashley (with Mort) the club lost roughly £20m. As ever I am 100% sure my site will have some small typos, and some glaring errors. Please let me know and I'll correct these !! If anyoen wants a copy of the results then just email me and I'll send you one. Link to post Share on other sites More sharing options...
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