The Newcastle United 2014/15 accounts have been released.
The club publishing an official statement confirming the headline results for the year ending 30 June 2015.
The full club statement is below but later we will be presenting more analysis of the figures.
Just for now though, anybody who wondered where Mike Ashley ‘found’ the £50m spent last summer, you simply have to look at the ‘cash at year-end’ figure below, which shows £48.3m at 30 June 2015.
Official Newcastle United Statement
Newcastle United Football Company Limited has today (Wednesday, 6th April) confirmed its financial results for the year ended 30th June, 2015.
During the year ended 30th June, 2015, Newcastle United generated a profit after tax of £32.4million (2014: £18.7million) and a net cash inflow from operating activities of £39.1million (2014: £32.9million).
Of the £39.1million cash generated, £23.8million was spent during the financial year on the playing squad (net of disposals). The remainder (which formed part of our cash balance at 30th June, 2015, of £48.3million) has been spent (or has been contracted to spend) in full since 1st July, 2015.
In total, the summer 2015 and January 2016 transfer windows have seen a net spend on the playing squad of just under £80million, and a significant increase in the Club’s annual wage bill.
Turnover remained fairly constant compared to the prior year, falling less than one per cent overall.
Turnover was made up as follows:
- Matchday revenue increased three per cent to £26.8million (2014: £25.9million). Premier League season and matchday ticket income remained at its 2013/14 level, and there was one additional home cup match this year.
- Media revenue fell one per cent to £77.2million (2014: £78.3million) due to the reduction in merit based payments resulting from the Club’s 15th place finish (2014: 10th) being partially offset by an increased number of games broadcast live (20 compared to 14) together with an increase in overseas TV revenue.
- Commercial revenue fell three per cent to £24.9million (2014: £25.6million), the most significant factor being the one-off income from the Kings of Leon concert in the prior year. Excluding this one-off event, overall commercial revenue has shown modest growth.
The Club’s debt, in the form of interest-free loans from Mike Ashley and companies under his control, has remained static at £129million. None of the debt has been repaid, nor has the owner taken any other monies from the Club during the year or since the year end.
Managing director Lee Charnley said:
“We appreciate that, at the present time, football results and not financial results are what our supporters want to see from us.
“That said, it would be wrong for the Club not to acknowledge the submission of our accounts for the period July 2014 to June 2015.
“We understand, however, that what you want to see are results on the pitch. There are still 21 points to play for and lots can, and likely will, happen over the next seven games.
“We, of course, acknowledge the seriousness of our situation. However we must remain positive and retain the belief that we can secure our Premier League status and we are doing everything we can to support Rafa and the team.”