2 years ago
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Newcastle Announce Record Profit
Newcastle United today announced they have made an annual profit of £18.7 million in the 2013-2014 season, a record for the club. Despite the gain the Magpies remain £129 million in debt to their owner Mike Ashley, who stated it is an interest free loan to the club. Club turnover increased over £30 million although so did the television revenue by 53.3%. Ticket sales were down however given the lack of Europa League football to the season prior, totaling a £1.9 million dip in sales.
I expect nothing short from Mike Ashley but the £129 million owed is a huge worry should the club be sold at any point. That amount of debt is ruining, so hopefully Newcastle can start turning the profits into debt elimination within the years to come.
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