Newcastle Utd Set To Break Even For Year

Newcastle United is on course to break even for the financial year, according to managing director Derek Llambias.

The Magpies, who drew 2-2 with Tottenham at the weekend to remain unbeaten so far this season, reported operating losses, before player trading, of £37.7m in 2008/09 and £35.5m in 2009/10.

Newcastle’s target of self-sufficiency does not include transfer fees, including the sale of Andy Carroll to Liverpool in January for a record £35m.

Llambias said in the matchday programme for the game with Spurs that the club is aiming towards being able to operate within the boundaries of Uefa’s financial fair play rules.

‘We are demonstrating our commitment to taking this club forward [to] a stronger position,’ commented Llambias.

Llambias added that he expected accounts for the 2010/11 period to show a loss of £4.7m.

Newcastle sold Carroll in January, along with Kevin Nolan and Jose Enrique in the summer – with Joey Barton leaving on a free transfer.

However, Newcastle remain unbeaten following the 2-2 draw on Sunday to remain fourth in the Premier League.

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