The accounts have been released (late again). Full details and a review will be available within a couple of days of Companies House publishing them. However, it is interesting to see as compared with our estimates.
Turnover £178.5m against our expectation of c£180m
Wages £93.6m, expected c £95 million
Other operating costs £24.6 million, expected c£25 million
Commercial revenue £26.7m, expected c£25m
We didn't know about how much would be taken out in loan repayments to Ashleigh but expected a change in cash position minus loan repayments to be around £80 million. In fact, a bit further out than in other areas as £42.1 million plus £33 million loan repaid (expected £30 million), so £75.1 million. It should also be remembered that player sales took place in the current financial year, not the previous one.
In broad figures, a Newcastle Manager should have a transfer budget (ball park) of a net £100m this summer, subject to confirmation from the more detailed accounts which will give more clues to transfer instalments.
In short, if I were Rafa, I would be inclined to walk on the basis that Ashleigh's public promise of "every last penny" had not been kept.
P.S. I'm a bit hard up this year so if any journalists who read this want to contact me for deeper analysis, I'm open to negotiate a fee.
Turnover £178.5m against our expectation of c£180m
Wages £93.6m, expected c £95 million
Other operating costs £24.6 million, expected c£25 million
Commercial revenue £26.7m, expected c£25m
We didn't know about how much would be taken out in loan repayments to Ashleigh but expected a change in cash position minus loan repayments to be around £80 million. In fact, a bit further out than in other areas as £42.1 million plus £33 million loan repaid (expected £30 million), so £75.1 million. It should also be remembered that player sales took place in the current financial year, not the previous one.
In broad figures, a Newcastle Manager should have a transfer budget (ball park) of a net £100m this summer, subject to confirmation from the more detailed accounts which will give more clues to transfer instalments.
In short, if I were Rafa, I would be inclined to walk on the basis that Ashleigh's public promise of "every last penny" had not been kept.
P.S. I'm a bit hard up this year so if any journalists who read this want to contact me for deeper analysis, I'm open to negotiate a fee.
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