Figures released on Wednesday 27th March show that Newcastle United have suffered substantial financial profit drops for the year ending June 2012.
It’s not all doom and gloom however for the North East club who showed profits were down from £32.6million (this includes the £35million sale of Andy Carroll to Liverpool) to just £4.1million. What is more important to note is the sale of Carroll, which was one of such magnitude was the main reason behind such a big profit margin the previous year. The Magpies still remain in a healthy balance and turnover has increased to £93.3million, 5.4% up on the previous year.
Another consideration taken into account is that the clubs wage bill dramatically rose by 20% to £64.1million. This was largely due to signings of several big name players such as Yohan Cabaye, Sylvain Marveaux, Davide Santon, Papiss Cisse and Demba Ba (now at Chelsea).
The Tyneside club was also keen to point out that their new partnership with Wonga was not part of their commercial revenue figure which was down by 12.7%. Newcastle claim it ‘Represents a significant increase on the club’s previous commercial agreements’.
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