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Newcastle United Admit Cup Competitions Are Not A Priority

8 years ago

Monday night saw the first meeting of the Newcastle United Fans Forum, a quarterly event where fans will meet club officials.

The two remaining board members, Secretary Lee Charnley and Finance Director John Irving, were on hand to answer questions.

One of the fans attending the meeting was Peter Fanning of NUST (Newcastle United Supporters Trust) and the answers from the club directors make interesting reading as he reported back to the NUST members and general fanbase via the Trust website.

With the Leeds cup-tie this week, you may be interested to learn that the club admit they don’t see cup competitions as a priority. Instead Newcastle United see the knockout competitions as an also-ran with a chance to play squad members, the only show in town is trying to finish top ten in the Premier League due to the financial rewards.

Other replies from the club directors to fan questions were;

  • Mike Ashley has no real intention, desire or ambition to sell the Club.
  • In the summer their strategy was to retain the players we had rather than buying because they thought they had a good squad. There was money available during the close season but the players they wanted weren’t available at the price they were prepared to pay.
  • Mike Ashley appointed Joe Kinnear because he wanted someone he trusts to work with the football side of the Club and have the football conversations with Alan Pardew.
  • It is felt that Joe Kinnear tried hard to bring players to the Club and it wasn’t always his fault that deals were not completed.  Sometimes there were problems with agents fees and other issues around the deals which meant that they weren’t completed. It was also repeated that we had done most of our planned business in January.
  • Club finances –it was explained that their financial planning is done on a three year cycle linked to the TV money. Our only debts are interest free debts owed to Mike Ashley which are unlikely to be called in until and if the Club is sold;
  • The Club accounts show that Mike Ashley took an £11million short term loan back last year but the £18million short term loan he was due to take back this year is being rolled over to future years.  The long term loan of £111million will stay in the accounts but there is no definition of long term.  This means that our only significant debts are the interest free debts to Mike Ashley.

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