Newspaper article Evening Gazette (Middlesbrough, England)

Magpies Announce Record Profits but Fans Seek Answers

Newspaper article Evening Gazette (Middlesbrough, England)

Magpies Announce Record Profits but Fans Seek Answers

Article excerpt

NEWCASTLE have announced record profits of PS18.7m for last season but fans say the figures have provoked more questions than answers.

The club have not released the full annual report, only selected highlights with no detailed explanation as to how PS28.5m of extra costs have been incurred.

Mark Jensen, editor of online fanzine themag.co.uk, said he had expected profits for the 2013/14 campaign to be closer to PS50m given the increase in income from television rights and the sale of Yohan Cabaye to Paris St Germain for around PS20m.

Newcastle also reported revenues increased by 35% from PS95.9m to PS129.7m. More than half of Newcastle's income - PS78.3m - came from the Premier League television rights deals, with commercial income also increasing.

Jensen said: "This has just provoked more questions than answers. There is PS28.5m of costs for which there is no explanation. The wages-toturnover ratio is also not included.

"We had anticipated a profit of around PS50m, especially with Cabaye being sold. …

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