Finance guru: Newcastle United 'walking a tightrope' ahead of announcement next week
Newcastle United “walking a tightrope” in terms of the fast-approaching deadline for the release of their annual accounts.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the imminent round-up of the St James’ Park side’s financials for the 2020-21 campaign.
The Magpies, who were taken over by the Saudi Public Investment Fund after the end of the accounting period, are one of the only top-flight sides to have not yet made their books public.
According to the club’s Companies House filing, they are due to post their results no later than next Saturday (21 May).
The Athletic reported last Saturday (7 May) that they are due to splash out between £60million and £80m on new signings in the summer, but their spending power under financial fair play will be dictated by their accounts.
Plumley explains that Newcastle’s decision to delay the release of the figures until the last minute is very on-brand.
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“We are due to see the accounts soon,” the Sheffield Hallam Univesity expert told Football Insider’s Adam Williams.
“Most clubs have filed already. Newcastle are always one of those clubs who walk a bit of a tightrope with it and go right up to the margins.
“Mike Ashley used to take advantage of all the policies where you could extend the deadline to make sure they didn’t get into the public as quick as other clubs.
“Whether the new owners will follow suit on that remains to be seen, but we should be able to see them fairly soon.”
Newcastle posted a pre-tax loss of £26m for the Covid-hit 2019-20 campaign.
Eddie Howe’s side are 13th in the Premier League and are next in action against Arsenal next Monday (16 May).
In other news, Newcastle United sent Jesse Lingard warning after BBC update.