Newcastle United’s full accounts have now been filed at Companies House and they show that £38.6m has been transferred into the club’s bank accounts as a cash flow sum, £4.5m of which was used to pay off an overdraft.
This news will reinforce criticisms that the club puts profit before ambition, having failed to sign a player in the January transfer window. Fans are planning a boycott of Sunday’s home game against Tottenham Hotspur.
Newcastle United’s full accounts have now been filed at Companies House and they show that £38.6m has been transferred into the club’s bank accounts as a cash flow sum, £4.5m of which was used to pay off an overdraft.
This news will reinforce criticisms that the club puts profit before ambition, having failed to sign a player in the January transfer window. Fans are planning a boycott of Sunday’s home game against Tottenham Hotspur.
The detailed accounts reveal that the club’s staff numbers remained the same at 288, though playing squad and support staff increased by 18 to 133, offset by a reduction in commercial and other positions.
The company’s wage bill rose by £16.5m but because of the large rise in turnover, the ratio of wages to turnover improved to 60.3% (from 64.3%), which the accounts say is “within the club’s desired range”.