Newcastle United Announce Record £19m Profit
March 30, 2015
English Premier League club Newcastle United have announced record profits of £18.7million for the year ending June 2014.
The figure is up from £9.9 million in 2013 with the growth in commercial revenue playing a big pat.
The results represent the fourth consecutive year of recorded profit for the club.
The Club’s turnover rose to £129.7million, up from £95.9million the previous year. Matchday revenue, which includes ticket sales and hospitality, dropped slightly to £25.9million, down from £27.8million in 2013.
Media rights revenues accounted for £78.3million of turnover, a 53.3 per cent increase on the previous year. This reflected the new Barclays Premier League broadcasting rights deal as well.
The Club reported a large commercial revenue growth, delivering £25.6million in 2014, up from £17.1million in 2013.
This 49.7 per cent increase was largely due to new deals with principal sponsors, Wonga and Puma.
Newcastle United managing director Lee Charnley said: “I am pleased to report a positive set of results which confirms the healthy financial position the Club now finds itself in and is a reflection of the prudent and measured manner in which we operate.
“The Club benefits from a supportive owner and is financially stable. This gives us a strong platform from which to grow, both on and off the pitch, a result of which means, as we move forward, we are able to net spend on the playing squad and invest in other areas of the business.
“The most pleasing aspect in this set of accounts has been the growth in our commercial revenue and it has been our strongest year yet in that respect.
“With our commitment to keeping ticket prices affordable for our supporters growing our commercial income has been crucial. The deals we struck with our two main sponsors, Wonga and Puma, together with a stronger focus on our commercial operations, have helped us achieve this growth.
“We believe financial stability will deliver positive on-field results for the Club.”