Newcastle Posts Profits Of £9.9m
Newcastle United have posted their profits from the 2013/13 season which sees the club’s profit after tax rise to £9.9m from £1.4m in 2011/12 following a growth in commercial revenue and a reduction in operational losses.
The profit comes despite a 30% increase in transfer spending having bought six senior players at a cost of £28.7m in January 2013. The club’s overall turnover rose to £95.9m due in part to a sharp rise in commercial revenue.
Matchday turnover, including ticket sales and hospitality, also rose to £27.8m, a 15.9% increase from the previous year with average attendance in the Barclays Premier League rising to 50,517. The club’s operational losses were also reduced from £5.1m to £616,00 and the total wage bill fell by just under £3m.
A statement from the club’s board said: ‘As supporters will be aware, finances are a significant issue for all football clubs given the introduction of Financial Fair Play into the Premier League in addition to UEFA’s Regulations. Complying with FFP continues to be a key influence on strategy and something we have been working hard at over a number of years.’
‘Everyone at this club wants to finish as high up the Barclays Premier League table as they possibly can. If the club can sustain itself as a ‘top ten’ team year-on-year with a stable structure and the right finances, it gives itself every chance of pushing even further. Matchday and commercial revenue is a key driver because that’s where the Club can compete with – and outperform – its competitors to enhance its spending capabilities.’
