Newcastle have just announced that they've made an £18.7m profit, on a £130m turn-over and it follows on from a post-tax £9.9m profit(on less than £100m turn-over) last year. Ashley is hardly a great advert for how to run a football club, but he certainly knows how to make money.
Premier League accounts summaries for last year, though realistically the numbers are out of date before they're published... please log in to view this image
I'm surprised how many teams are actually reporting profit. Looking at that we're one of if not the worst financial mess in there. Cue comments about name change miraculously raising huge amounts of money whilst actually driving away loyal customers....
The big surprise on there for me are the Leicester figures, as i'd never really seen or heard anything around financial troubles, unlike QPR who I hope do a pompey, the big clubs, pretty much guaranteed prem football year in year out you can understand running at a loss with a big debt, but fr a team just aiming to stay up.....those figs could be damning if/when they go down.
Ashley certainly runs a tight ship financially, but unless he becomes a boom or bust merchant will never satisfy the NU fans.
The Premiership and Murdoch-ism has driven away more loyal customers than a name change ever will. Funnily enough, despite the loss of these fans of real football, there are still plenty of tele addicts waiting in the wings to replace them! I am sure that the same will happen when Hull City become 'Ull Targers. There just won't be quite as many people watching Eastenders and other main stream 'entertainment ' shows on the tele cos football has become no more than a means of building TV viewing figures.
Not necessarily, they may just have written off the loans after the last financial year, the current filed accounts don't cover this season.
Martyn Ziegler @martynziegler Premier League in the black, 2013/14 profits: Soton £33m, Everton £28m, Man U £23.9m, Newcastle £18.7m, Chelsea £18.4m, Arsenal £4.7m.
Martyn Ziegler @martynziegler PL in the red, 2013/14: Aston Villa £3.9m loss, Sunderland £16.9m loss, Man City £23m loss. QPR £9.8m loss plus £60m loans written off.
Newcastle's accounts are in a (Ashley organised) mess and a lot of their fans a claiming foul play is at hand over unaccounted revenue and that crippling debt(129m) that they believe was well on the way to being paid off.
