Nine days ago we brought an outrageous Derek Llambias biography posted on the official Rangers website to your attention (and the rest of the World), which was also sent out as a circular to Rangers shareholders.

The bio making some very ‘interesting’ claims as to what Llambias had achieved in his time at Newcastle United, in fact you could have almost been forgiven for thinking that you were reading about a totally different club…

It read:

‘Derek joined Newcastle Football Club in 2007 as Vice Chairman and Managing Director and in his 5 years stewardship he reformed and improved stadium facilities, expanded commercial activities giving N.U.F.C. an increase in turnover from £85 million to £123 million. He took the club which was making significant losses to one of the top 20 most profitable clubs in Europe.’

You can read the article we published HERE pointing out where they might have ‘slightly’ exaggerated Derek Llambias’ achievement.

Now it is once again thanks to Mag reader Dave Jegier for letting us know that a hugely embarrassing admission has been released by Rangers, confirming that the claims were misleading.

Rangers have released the following statement:

“Derek Llambias joined NUFC in 2008. He initially joined as Deputy Chairman and was appointed as Managing Director in June of that year.

“In the financial year ended 30 June 2009 (the first full accounting period after Mr Llambias’ appointment), the turnover of Newcastle United Football Company Limited (“NUFCL”), as recorded in their audited accounts for that period, was £85,681,000.

“Derek Llambias resigned from his post as Managing Director of NUFC in June 2013. The turnover of NUFCL for the financial year 30 June 2013, as recorded in their audited accounts for that period, was £95,879,000.

“The figure of £123 million referred to in the Circular was the projected turnover, as at the time of Derek Llambias’ departure, in the financial year to 30 June 2014.

“In the Deloitte “Football Money League” report for 2011/2012, published in January 2013, Newcastle United were ranked at number 20 in Europe.

“Newcastle United were also ranked at number 20 in the Forbes list of the richest football clubs in the world, published in April 2013. These were the last rankings published during Mr Llambias’ tenure at NUFC. (Although the Club dropped out of the top 20 in both equivalent lists published in 2014, the Deloitte “Football Money League” report for 2013/2014, published in 2015, ranks NUFC at number 19.)

“Newcastle United did appear in the top 20 of both lists at the start of Mr Llambias’ tenure, although dropped out during the intervening period. The Directors believe that is predominantly due to NUFC’s relegation in 2009.

“Neither of the aforementioned reports ranks clubs solely on the basis of profitability. It should be noted that in the year to 30 June 2008, NUFCL made a loss attributable to members of £20,048,000, and a loss of £14,554,000 for the year to 30 June 2009. In the year to 30 June 2013 however, NUFCL made a profit attributable to members of £8,814,000.”


  • Sickandtiredstill

    Disbanding the RFB and threatening to sue them over their Facebook page, just goes to show how desperate these (Ashley) guys are to maintain their lies and spin. 
    If only we had a similar window into what is really going inside NUFC. It’s no wonder Fatty refuses to speak.

  • MsiDouglas

    NUFCTheMag CaulkinTheTimes Well that’s awkward….

  • NUFCTheMag

    MsiDouglas CaulkinTheTimes That’s the trouble when you have shareholders with at least some rights, shame not the case at #nufc

  • Sickandtiredstill

    @NUFCTheMag MsiDouglas CaulkinTheTimes This is the 6th regulatory announcement (RNS) to the AIM market having to change previous ‘inaccuracies’.

  • Craig_McD

    TeamToon thelionbrand more lies from the rats..

  • Greekgeordie

    Figures figures figures what has to do with a football club? we are a mid table club, with chances to be in top 6 or somewhere between 12 and 15 position, the only way to look forward is if a Tycoon comes up in a white armour and bankroll success.

  • pauarmst

    NUFCTheMag RangersFCTrust SonsofStruth They are a laughing stock but soon to be rid of. God knows how they get boardroom positions.

  • govan_derriere

    Many thanks to the authors of the original article. I used your information to write to AIM/FCA & Nomad Paul Shackleton. Copies of my communication – see post 67 at

    Without your assistance, the public climbdown by Llambias & his crew would not have been likely.

    Cheers  WATP

  • Polarboy

    Greekgeordie What you aren’t getting here is that we aren’t merely living within our means, Ashley is bleeding us dry and hoping that we don’t get relegated so he can bleed us some more.

  • Greekgeordie

    This is exactly what I mean, Ashley is not prepared to take us to a step up, so as far as we are a EPL team, our only hope is the knight in a shining armour that will appear from somewhere, for the time been I support the team, and try to enjoy the good days such as the few days that we win and wait for the next Mesiah.

  • Polarboy

    Greekgeordie Success doesn’t need to be bankrolled as you put it, Ashley if he wasn’t the bloodsucker he is could easily have us turning a profit and investing in the team to the point where we would be consistently competing for the top 6 or 7 and the cups, as it is he sells any player who has a good run of form and tells the manager to not bother with the cups. Figures have a lot to do with the team when they tell a story of greed and complete contempt for the fans.

  • toon tony

    Because the “hierarchy ” at the club think so and keep reminding us.

  • LeazesEnder

    @pauarmst NUFCTheMag RangersFCTrust SonsofStruth I’ll give yer a poond if yer chin him!

  • Sickandtiredstill

    LeazesEnder NUFCTheMag RangersFCTrust SonsofStruth hoping King gives him a kicking with a forensic audit. Those deals with CG before the IPO are stinking

  • Greggy164

    Sickandtiredstill LeazesEnder NUFCTheMag RangersFCTrust SonsofStruth  Most things are stinking at Rangers the now

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