Newcastle Announces Record £19m Profit

29 Mar 2015 | sigadmin

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Newcastle United has announced a record annual profit of £18.7m for 2013/14, the fourth consecutive financial year they have made money.

The Premier League club’s debt remains at £129m, in the form of an interest-free loan from owner Mike Ashley.

The latest figures confirm the north-east club as one of the most profitable in the Premier League. Newcastle’s turnover stands at £129.7m, up from £95.9m the previous year.

Matchday revenue dropped slightly to £25.9m, down from £27.8m in 2013 when the club hosted seven additional home games as a result of its participation in the UEFA Europa League.

The club claim season ticket renewal figures held firm, as did average attendances, which stand at 50,395 compared to 50,517 the previous season.

Figures show £78.3m of turnover was television cash, with commercial revenue soaring to £25.6m thanks largely to deals with Wonga and Puma.

The club said in a statement: “Debt continues to remain static at £129m in the form of an interest-free loan from owner Mike Ashley. None of the debt has been repaid to Mr Ashley nor has the owner taken any other monies from the club.”

Newcastle’s managing director, Lee Charnley, commented: “The club benefits from a supportive owner and is financially stable. This gives us a strong platform from which to grow, on and off the pitch.

“A result of which means, as we move forward, we are able to net spend on the playing squad and invest in other areas of the business.”