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From reading through this it really brings it home that the club is probably being run to entirely satisfy the balance sheet. I mean we knew this was true as a general rule but with these accounts you get the feeling that it's being run year to year, i.e. player coming to end of contract or not fancied by manager, sell him for peanuts to anyone and write down his value in the books.

 

There surely can't be a worse way to run a professional football club.

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So the club only made £18m profit, but the bank balance went up by £38m?

 

That must mean Ashley is back to putting £20m a year into the club, right?

 

Don't know why there's a boycoutt #ahkm #wait

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Guest chopey

A very well written and comprehensive article, however nothing in there convinces me that we are going to employ a good manager and spend on players, in fact I can see plenty of reasons in that article for us not to spend this summer.

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Excellent article.

 

http://1.bp.blogspot.com/-d57yeOXl9Kw/VTOr3RZmv2I/AAAAAAAAIcc/1Dqk6tauqMI/s1600/4%2BNewcastle%2BProfit%2BLast%2B4%2BSeasons%2B2014.jpg

 

Says it all.

 

This, too:

 

http://3.bp.blogspot.com/-VIN5lynWwHE/VTOsvpSr3HI/AAAAAAAAIdU/JlW1bJgh2ok/s1600/11%2BNewcastle%2BRevenue%2BGrowth%2B2014.jpg

 

Shows that the club isn't well stewarded at all, they are just milking the TV revenues, while there's no growth on other fronts. Hell, commercial and match day revenue where higher before he took over!

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Guest chopey

Eh that chart makes no sense shouldn't Man City, Liverpool, Aston Villa and Chelsea have been relegated by now

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