Kieran Maguire hails 'public face of Newcastle' as triple-your-money deal confirmed for Ashley favourite
Newcastle United director Lee Charnley has seen his salary almost trebled over the last financial year – but his pay hike is “warranted”.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about figures released in the Magpies recent annual report.
Documents posted to Companies House on 6 August show Charnley’s annual pay packet has soared from £267,000 to £675,000 since 2018-19.
In more recent news, Steve Bruce thanked Charnley for going “above and beyond” to sign Joe Willock after he joined on 13 August.
But as Mike Ashley’s sole director at St. James’ Park and right-hand man, the 43-year-old remains unpopular with Newcastle fans.
Maguire revealed how Charnley’s salary compares with other chief executives in the Premier League.
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“It’s warranted in the sense that he is the public face of Newcastle,” he told Football Insider correspondent Adam Williams.
“He is the only director and he therefore acts as a deflector away from Mike Ashley.
“By Premier League standards, the average salary is around about £930,000. There are in fact nine chief executives who are on more than £1million.
“So it’s not excessive. Daniel Levy is on £3m, Ed Woodward is on £3m. At Chelsea, the chief exec is on £1.7m, Liverpool £1.3m, Brighton over £2m.“
Newcastle posted a £54m loss for the 2019-20 financial year but said they would have turned a £1.1m profit had it not been for the pandemic.
Charnley admitted in an accompanying statement that the results did not reflect a “normal year” for Newcastle.