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bleak future for newcastle?

  • 05-05-2006 2:06pm
    #1
    Táck
    Closed Accounts Posts: 1,744 ✭✭✭


    Newcastle United plc interim results paint a bleak picture :

    Newcastle United plc (LSE:NCU) have released their interim results to the six months ending 31 January 2006.

    Turnover fell to £43.033m (2005, £49.512m) wither operational expenses of £40.285m (2005, £40.964m). Amortisation charge for player registrations almost doubled following the signing of Michael Owen from Real Madrid to £8.594m (2005, £4.863m).

    A loss of £6.334m (2005, £7.252m profit) was made for the period, approximately £1m per month.

    The company had Net Assets of £22.480m (2005, £38.372m) on 31 January 2006. Losses of this magnitude are not sustainable for Newcastle United, who will find it difficult to fund a strategy capable of delivering Champions League football, without which the club cannot afford to operate at its current expenditure levels.

    Securing the services of a top football manager for next season will be all the more difficult against a backdrop of financial uncertainty. If the club continue to lose money at this rate, without remedial action they will become insolvent by the end of 2007.


Comments

  • #2
    Rikand
    Registered Users, Registered Users 2 Posts: 20,432 ✭✭✭✭Rikand


    wow, bleak indeed!


  • #3
    Trampas
    Registered Users, Registered Users 2 Posts: 7,814 ✭✭✭Trampas


    They already charge high prices for match tickets.

    How much did they have to pay souness.

    The £16 million they paid for Owen didn't help.

    They could have paid less for him if they wanted.

    With Shearer of the wage packet might mean less income next year.

    They should have sold a load of Shearer arms when he scored the crowd could have put them all up in the arm as I have never seem him do anything different when he scores.

    Could have made a couple of quid out of that


  • #4
    el rabitos
    Registered Users Posts: 2,731 ✭✭✭el rabitos


    They should have sold a load of Shearer arms when he scored the crowd could have put them all up in the arm as I have never seem him do anything different when he scores.

    or some fake hitler mustaches, 1 arm salute and all that.

    i'm sure liverpool would give them 8 million for owen :p


  • #5
    shatners basoon
    Closed Accounts Posts: 603 ✭✭✭shatners basoon


    Thats probably one of the reasons they're looking to take on roeder as manager. he's doing great for them and everything (if they had him from the start they probably wouldnt be in this mess.)
    Maybe Souness fúcked up on purpose so they'd fire him and hed get a nice payday. Then again i dont think he really had to try very hard to fúck up considering his ability did he?!


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