Revealed: Newcastle in line for mega £48m transfer windfall
Newcastle United are owed £48million in outstanding transfer fees, according to the club’s newly-published accounts.
The north-east giants were owed nearly the huge sum from other clubs at 30 June 2019.
Analysis from Football Insider has learned that the sum includes £18.8m of transfer payments due to United by the end of this month.
Newcastle posted a glowing set of financial results that left them with the third highest pre-tax profit for last season, behind only Tottenham and Liverpool.
The Mike Ashley-owned club recorded a pre-tax loss of £41m for last season even though turnover dropped £2m to £176m.
Ashley’s caution and tight husbandry has long made him deeply unpopular with supporters amid the backdrop of a £300m takeover that is in its final stages.
But there is no doubting the Sports Direct tycoon knows how to oversee a profitable football club.
The club’s wage-to-turnover revenue is just 54.9 per cent, the sixth lowest in the Premier League and well below their target ceiling of 60 per cent.
Aside from the £111m of long-term interest-free loans owed to Ashley, Newcastle are debt-free.
Newcastle have made money in eight of the last nine years, the only exception when they spent the season in the Championship in 2016-17.
The Magpies are 13th in the suspended Premier League and well placed to avoid relegation as Ashley prepares to make way for a Saudi Arabia-led takeover that promises a transformation of the club’s ambition and investment.
In other Newcastle United news, the door has opened for the club to sign superstar after Sky reveal.