Newcastle United’s board have issued a statement on their financial status which means that the club will have no transfer money to spend in the summer; however supporters shouldn’t be too downbeat by this news.
The statement from Newcastle’s board reads: “The board have structured a five-year plan in which the ultimate goal will be to ensure that the club is run at a ‘break even’ manner by the year 2015-2016. The first team squad that won the Championship this year will form the basis of the team for next season in the Premier League. There is no plan for new capital outlay on players.”
Newcastle are having to take this measure because they recorded an operating loss of £37.7m for the financial year 2008-09 and are estimating a shortfall of £32.5m for 2009-10, while their £20m overdraft is already committed.
This means that Chris Hughton will only be able to strengthen the squad with free transfers and loan signings. However after this season’s remarkable Championship campaign which has seen the club bounce straight back to the Premiership as division champions, one has to question if the team even need any additions.
Newcastle strolled to success this season which is evidenced by the team finishing with 102 points and only losing four games all season. The squad has plenty of players who are more than good enough to play in the Premiership such as: Steve Harper, Coloccini, Jose Enrique, Kevin Nolan, Joey Barton, Peter Lovenkrands, Alan Smith, Jonas Gutierrez and Steven Taylor. Add to that plenty of promising youngsters such as Andy Carroll, Tim Krul and Nile Ranger then it remains to be seen just where any strengthening is needed.
Chris Hughton has managed to get the best out of the players this season so as long as he can rally them for a tough year then what he has at his disposal will be more than adequete. Obviously Houghton will still want to strengthen his squad as the players may tire during the season and some of the youngsters who haven’t played too much may find the step-up a bit difficult at first.
But with plenty of good free agents available who Newcastle will have a good chance of signing due to their stature and with one or two clever loan signings, then the quality of the Newcastle squad will only be improved and fans can expect at least a mid-table finish next season.