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£91m loss at Newcastle United

Newcastle United made a loss of £90.9m in 2016/17 before gains on player sales for Sissoko, Wijnaldum etc reduced that by £42.2m. Player signings were £41.4 million and player sales £69.8 million to give net income of £28.4 million in 2016/17.

Turnover was down by 32 per cent from £125.8m to £85.7m. The wages to turnover ratio went up from an acceptable 59.4 per cent to 130.9 per cent. However, such increases are not unusual for Championship clubs seeking to return to the top flight. Promotion bonuses amounted to £9.9m.

Matchday income was down 10 per cent despite higher attendances and more matches in the Championship due to lower ticket prices and prawn sandwich sales. Commercial income halved due to the loss of Premier League central commercial deals and TV was down 35 per cent. Commercial income declined from £25.1m to £12.1m.

Mike Ashley or companies controlled by him are owed £144m.

Kieran Maguire of the Price of Football has taken an in depth look at the accounts: Lovely Jubbly

Maguire concludes, 'Newcastle did take a gamble in investing in players in 2016/17 to engineer a return to the Premier League, but not as much as the club has claimed. Astute management from Benitez combined with canny signings on players who have a good resale value during the season helped them bounce back.What happens next with Mike Ashley at the helm is unknown, he is the football Fog on the Tyne and it won’t lift until he leaves.

However, Maguire thinks that the £400m Ashley is said to hope he can get for the club is optimistic.'

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