Betway betting sites banner

Archive for tag: Newcastle still owed money from player sales.

Newcastle due a cash windfall, but it must be spent wisely.

May 20th, 2010 | 75 Comments |

We're NOT in the money, yet!
We're NOT in the money, yet!
I was just having a quick look through some of the key points of the latest accounts that have been submitted, and came across something rather interesting that I missed in my initial assesment of them a few weeks back.

It’s concerns money that is owed to the club from player sales, and could explain partly why cash at the club seems to be thin on the ground at the minute.

In the footnotes, it seems the club is still owed £17 million from the transfer of players like Damien Duff, Charles N’Zogbia, Obafemi Martins and James Milner, of which £13 million is due to be repaid this year. Of course this is a trend in football at the minute, to buy players over a number of years on a capital outlay, never never basis, which it seems is the way that some players have been bought off of us. In contrast though, our theory is to buy players using cash upfront only, which could be part of the reason why we can only expect a few signings to be made this summer. (more…)