Archive for tag: UEFA Financial Fair Play Rules.

Club to announce financial good news all round

March 6th, 2012 | 44 Comments |

Newcastle United to announce profit
Displaying financial acumen?
Newcastle United are set to announce strong financial results, have settled a dispute with the tax office and have frozen season ticket prices for 9 years.

According to an article in The Telegraph, Newcastle’s results for the 2010/2011 financial year – which are due out later this week – are set to show that the club is in good shape. The Telegraph goes on to suggest that they will show the club has made a profit for the first time since Mike Ashley bought it in 2007.

Apparently said results will not include player trading, although we should still have change from the £35m windfall we received from Liverpool for the sale of Andy Carroll.

In a separate article, The Telegraph goes on to say that the results will also confirm that we’ve reached an agreement with the tax office over ongoing disputes we’ve had with them.

The main dispute with HMRC has been about players’ ‘image rights’. This was a kind of tax avoidance scheme where payments to players were labelled as ‘image rights’ rather than ‘salaries’, which meant that such payments could be made to companies rather than individuals and thusly attract 26% corporation tax rather than 50% income tax. This is something that at lot of Premier League clubs have been up to and most have reached agreements with the tax office about it. Allegedly the settlement agreed by Newcastle has already been accounted for by a contingent liability put aside in the previous year’s accounts. (more…)

Financial fair play, Toon aspirations and the Stoke game

October 28th, 2011 | 36 Comments |

Time machine would be needed for Newcastle to undo League Cup defeat.
Can't turn back time on the League Cup
Newcastle United have a big test of their ability to bounce back from defeat with a tricky game away at Stoke on Monday. I do actually manage to squeeze in some references to the game in an article even more rambling than usual.

The mid-week League Cup defeat was disappointing but without a time machine* we can’t change that now, so it’s time to get jiggy about our upcoming game against Stoke.

This in fact is the attitude of Davide Santon, who had his first start for us on Wednesday. Santon said:

We hoped to get into Europe through the League Cup but now we must look to the league for that.

We need to aim for a top-four spot. We have a fantastic squad. But we have a lot of very, very big games against very good teams coming up and we need to put all of our efforts into doing that now.

We lost Wednesday’s game, but we’re in a good place in the league. That is where we are concentrating now. We need to keep going and carry on winning. (more…)