Kieran Maguire: Newcastle United set for FFP blow caused by Mike Ashley
The £6.2million fine issued to Newcastle United will have to be calculated in the club’s Financial Fair Play accounts.
Finance expert Kieran Maguire exclusively told Football Insider that the Magpies owners will be ‘irritated’ at the fine which dates back to Mike Ashley’s tenure.
As revealed by Football Insider, Newcastle have been ordered to pay a £6.25million fine to HM Revenue and Customs after losing a High Court battle.
The fine dates back to 2017 when Newcastle were raided and documents were seized following an investigation into agent fees.
Despite the offence taking place during Ashley’s ownership, Newcastle’s current owners will have to pay the fine – which will be included in the club’s future financial accounts.
Maguire explained that Newcastle’s new owners will be making sure to follow all financial regulations due to the scrutiny under the club.
“Newcastle’s £6.2million fine relates to activities under the Mike Ashley regime,” Maguire told Football Insider’s Sean Fisher.
“The new owners can easily afford it but they will be irritated at having to pay the sum.
“It will have to be added into the calculations for FFP, it might be deemed to be a prior year adjustment and therefore could be excluded from this year’s accounts.
“I’m sure the club will pursue that particular angle.
“Moving forward, I’m sure Newcastle will make sure all rules and regulations are followed because they are aware of the scrutiny they are held under due to their owners.“
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