by • February 26, 2014 • NewsComments (22)1561

Newcastle United gave news of its latest financial results and appears to be broadly very NUClubcrestpleased with itself.

true faith will be looking at the details very closely and publishing our angles in the next issue of the fanzine.

However, before we do that, we’d like to have your take on what the financial results mean to you as a supporter and what kind of financial condition you believe the club is in.

Just click here – Newcastle United Financial results to read the club’s statement on its results.

Please pass comment as per below.


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22 Responses to NEWCASTLE UNITED ACCOUNTS – Give Us Your Reaction

  1. rich says:

    “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.
    “Ultimately the income the Club generates, particularly, given the restrictions of the Premier League FFP Rules, from matchday, commercial i.e. non-TV income, will directly impact on the strength and quality on the pitch”

    Effectively they are saying if you don’t turn up and spend your money, we can’t compete and you are all to blame…..

    • Rowla says:

      Yeah, that was my take on it too Rich. It also disregards the fact that matchday and commercial is a comparatively small slice of the pie.

  2. DAVE says:

    The fact that he has no interest in getting any of the debt to himself off the books, just shows he is here for the long haul. Why would he want to sell up as well? Got a fantastic stadium that showcases his cheap tat, any empty seats can be filled cheap enough. The TV money is getting bigger each year, so no need to put any effort into improving, marketing the club. Fans are too apathetic to do anything about it. Until the different supporters group unite, get angry enough and organise sustained protests/action then we’re in for this crap for a long time.

  3. Tom Pitt says:

    As we are spending virtually nothing now,its difficult to see how any drop in attendance figures could make things worse!!
    A pathetic attempt to frighten people into continuing to spend our hard earned cash while Ashley spends nothing.

  4. Shaun C says:

    From a business perspective the results simply confirm what many fans already believe, the Club is profitable and can make money. From a footballing perspective not a lot of progress has been made other than a recovery in League Table position. Strategy appears keep costs down to bare minimum and try to sign players that have a potential resale value at some point or other or better still actually increase their value. Either way the Club is still owned by Mike Ashley, the debt to him remains virtually static and not much is likely to change whether fans go or don’t go to games.

  5. Whumpie says:

    Commercial revenues are still massively down from when Ashely took over and pathetic for a club with such a strong following and brand.

    These figures just use the hike in TV money to mask the huge mess they’ve made of the brand and the reveues it should bring in.

    Even allowing for the money lost to free SD advertising they have been an abject failure in building revenues, while others have shot ahead.

    These are terrible figures once you actually look at them properly.

    • east stand exile says:

      Commercial revenue had halved in the last accounts (14m+) compared to when Ashley took over. When the club is owned by a sportswear magnate with a hugely successful track record in, well, sports commerce? It’s not just the free adverts, does the fact that club shops & nufc direct are plugged in to SD have anything to do with it? Or just a coincidence? Could it be that the money is actually still there but is diverted before it reaches bird’s accounts??

  6. David Rutherford says:

    It takes a lot to insult me but that thinly veiled threat (along with the fan forum comments about Cabaye, the FA Cup etc) have fucking managed it. As Tom said, we haven’t competed in the transfer market for two windows now so what difference would it make? I can’t think of any better reason to stage a boycott but as ever, until those with a bit of influence get behind it it’ll be nowt more than a pipe dream.
    Meanwhile Ashley continues to laugh his cock off at us.

  7. Gary Lockey says:

    I have said on previous occasions, if people get the governments they deserve then we certainly have the football club we deserve. The only common factor spanning the last 50 years of our failure to win a trophy is the fans. Owners, managers and players have changed but we are the constant.To those that say boycotts do not work therefore what is the point, I would suggest apathy has held us back and I honestly believe a significant drop in season tickets might result in a re-think (hence the threat).
    If you do not want to participate, do not complain if our potential is never realised.

  8. Ian Summers says:

    It is often said that fans attending games and resulting income is increasingly dwarfed by TV money. This is a red herring as take away the fans and the passion they generate then the TV money would soon fade away. Much of the TV money now comes from worldwide interest in the premier league. Foreign “supporters” are attracted by the crowds attending matches almost as much as the match itself? On a recent Spanish holiday I watched Seville v Valencia in what locals said was a 6 pointer as they both chase a Europa league place. It was one of the most boring matches in ages, of Championship standard played in a dead 1/2 full stadium. Ashley clearly resents our support but take away our attendance and he would soon lose the TV money too.

  9. Neil Newton says:

    Do any of the people who claim boycotting works, actually know the approximate amount of lost revenue that would make Ashley sell up and if so, could they please show some facts and figures to support their argument?

    • David Rutherford says:

      It’s got nothing to do with lost revenue (at least not initially) – it’s about the negative publicity a regularly half empty stadium would garner and the message it would send. No-one’s saying it would force him to instantly sell up but it would certainly make him realise that the one thing he’s always relied on – a full stadium – isn’t the certainty he thought. And even if it didn’t work, it can’t be any less effective than doing fuck all.

  10. Ian Summers says:

    A more likely financial threat to the club may not be a boycott but fans naturally leaving due to apathy having grown tired of all the lies. In August the club claimed to prefer to buy in the January window as it was better value. Through the “fans forum” we are now told they prefer August as more players are available! Many fans expected and even accepted Cabaye leaving but to have no replacement says it all about the club. This season is a massive missed opportunity, not long ago we outplayed Man. City! The purpose of the club has become an advertising vehicle for Ashley’s companies.

  11. Gary Lockey says:

    Boycotting has absolutely nothing to do with lost revenue (in fact I suspect not attending a game(s) when the ticket has been paid for is probably more powerful) but the negative impact a less than full stadium has on the Sports Direct/Wonga brands (hence why lower tiers are sold first in cup games). Ashley knows this all too well hence the ‘attractive’ ticket pricing to ensure the stadium is as full as possible. Also, regarding lost income, Sky would probably not be as keen to show us if the stadium became as ’empty’ as the SoL and Villa Park etc.

  12. Adam Tait says:

    My question is this:

    If Ashley considers free advertising for SD to be necessary in light of the 129 in interest free loans he provided to the club, are the increased profits SD has enjoyed over the past several years considered to be paying down that debt? And at what rate?

    • Niall Fleming says:

      Commercial interest on this loan would be around £9-10m. I don’t see any evidence that the free advertising is accounted for so it appears to be exactly that, free. So I suppose the commercial argument is that in lieu of loan interest Sports Direct benefits from both free advertising and the profits from the club shops. Bear in mind that Sports Direct is a quoted company and only majority owned by Ashley, so any such arrangement would have to be to the net benefit of Sports Direct. It probably is.

      Clearly what the PL should be insisting on is a transparency where the substance of actual and real transactions are reflected in football club accounts.

      In our club there are three “holes” or rather “unknowns”, Shop Revenues, Advertising and the real cost of Loans. It is quite possible that the three things mutually cancel out, but it would be better if it was clear and if it was known.

      • east stand exile says:

        The huge difference to commercial loans of course is that with commercial loans they reduce as the capital is repaid. Despite all the profits, free adverts, club shops money going to SD and huge transfer surplus Ashley’s ‘loan’ never reduces. I don’t think there’s any cancelling out, nufc is run purely to contribute to the profitability of SD and Ashley.

  13. Linda Robinson says:

    Where the hell has all this commercial revenue come from and the commercial partnerships? All advertisements are his businesses excpet for Wonga. As for “Ultimately the income the Club generates, particularly, given the restrictions of the Premier League FFP Rules, from matchday, commercial i.e. non-TV income, will directly impact on the strength and quality on the pitch.
    “The process requires patience but we remain absolutely committed to growing the Club in a responsible and sustainable way.” How patient do we have to be. We’ve waited 7 years already and we don’t seem to be any further forward. In fact I think we are going backwards. #Time4Change #AshleyOut

  14. ant says:

    @Gary Lockey
    Exactly right! NUFC’s greatest asset is the match day atmosphere – Sky and BT are not killing each other over who will be first to cover Wigan, are they? The team is now in a safe space (mostly due to how rotten the rest of the premiership is); let’s stay away from the stadium for a couple of home games to give Ashley a snap-shot of what the future might look like and let’s see how he responds.

  15. Dave C says:

    Many suggesting a boycott… I completely agree. I believe the reason the owner chose to purchase NUFC was based on match attendances and loyalty shown by the fans. This provided a steady base for the club to become self sufficient and allow the completely free advertising of SD. There has never been any intention of growing NUFC, the only requirement being stability. To rid the club of the current regime the owner must incur unwanted and immediate costs.

    Bearing in mind that he is not the sole owner of sports direct. If we as fans can make sure he has to pay to run the club, also meaning he is not advertising completely free of charge, I believe he will want to move on quickly. He will not want to pay to run the club that he advertises from, he would be paying to invest in other SD shareholders wealth! Surely this can only happen by boycotting our home games. For a small period of time, act now as our season fizzles, there is no loss to our league status.
    As for what the future holds for the club, we only need look at KKs interview from a couple of years ago. He openly told us that derogatory bids would be placed for players, ensuring they would be declined. This is just to trick the fans into believing they have attempted to do business, Gomes, Ruiz, Grenier, to name but a few! Players, agents and clubs are now aware of these tactics and I thought it was embarrassing for the club how the Grenier situation was publicised by him and his agent, although they deserve our thanks for again highlighting how corrupt the owner and his minions are. I strongly believe that these tactics which highlight ilour lack of ambition and interest in success, growth and development will see us plummet over the next two years! We don’t pay the best wages or bonuses (or any bonus) so why would a professional footballer want to join a club that strives to be……..?unknown?
    Attendances need to drop to rid us of the current regime, they will either drop because we act as Newcastle United or they will drop because our club sinks.

    • David Rutherford says:

      Great points there, Dave, but sadly there’s little chance of a boycott happening until the groups with a bit of influence get behind and publicly endorse it. The likes of you or I could easily start a blog urging people not to go to the game but the chances of that being read by as many people as this site, The Mag, etc are none existent. And let’s be honest, what chance do we have when someone who sits on the fan forum comes on this very message board defending Ashley and saying he doesn’t deserve the criticism he gets? Your timely reminder of the club’s transfer policy and deliberately derisory bids alone is enough to condemn Ashley to hell yet if he’s managed to butter up the people who are supposed to be pulling him up on his antics then we’re clearly well and truly fucked.