Kieran Maguire: Newcastle United fans will be livid as £2m Government payout confirmed
Newcastle United fans will be “disappointed” that they are the only Premier League club to have claimed furlough cash two seasons running.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the figures in the Magpies’ accounts for 2020-21.
The report, which was filed with Companies House on Monday (16 May), showed that turnover fell from £153m to £140m in the year ending 30 June 2021.
The club ascribed £40m in lost income to the effects of the pandemic, which meant matchday income was non-existent.
Notes to the account also revealed that £900,000 was claimed through the Coronavirus Job Retention Scheme, which Newcastle also used to the value of £1.15m in 2019-20.
And Maguire insisted that the St James’ Park faithful will not be pleased that they are the only top-flight side to claim money from the Government in successive years.
“A lot of people will be surprised and fans will be disappointed that they took advantage of the coronavirus job retention scheme in both of the last two years,” he told Football Insider’s Adam Williams.
“I certainly haven’t seen any other Premier League club take this route.
“We have seen the fans of certain clubs kick up a bit of a fuss about the owners trying to take advantage. But Mike Ashley was an immovable object.”
Newcastle changed hands from Mike Ashley to the Saudi Public Investment Fund in October last year.
Furlough cash was claimed under the previous ownership regime.
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