The damning news this morning is that Newcastle United have managed to fall out of the Deloitte rich list of the top twenty football club turnovers.

Shockingly, not only have a number of clubs including Corinthians, Roma, Fenerbahce and Atletico Madrid overtaken NUFC, but the club’s turnover has unbelievably fallen!

deloitte rich listIn the 2013 Deloitte rich list (which covers the 2011/12 season finances) Newcastle United’s turnover was 115.3m euros, this has now dropped to 111.9m euros in the 2014 report (for season 2012/13).

This simply reinforces the belief that Mike Ashley is taking this club backwards and any chance of competing is going down the pan.

In previous articles on the website we have shown just how disastrous the revenues from the commercial and matchday sides have been, with only ever increasing TV income propping the club up. All the free advertising the rest of Ashley’s empire benefits from is only the tip of the iceberg in terms of what is being visited on our club.

This latest Deloitte report lays bare which direction our club is moving in.

Newcastle United have dropped to 25th from 20th highest turnover and that is the only direction we are heading in, in every department, with the exception of increasing TV revenues which every Premier League club will be benefiting from.