Newcastle United lost £ 200,000 a day over the 2022-23 season but it remains ok, according to finance expert Kieran Maguire.
Speaking to Football Insider about the Magpies’ finances, he said that despite losing £200,000 a day, the Premier League club’s situation is “exactly as expected”.
“On the back of their progress in cup matches and their new commercial deals, Newcastle’s overall revenue of £250million in 2022-23 is exactly as expected,” Maguire stated.
“It aligns with their top-four finish in the Premier League.
“The calculations show the club lost £200,000 a day in 22-23.
“But if you compare it to Chelsea in their first two years under Roman Abramovich, the club lost £228 million.
“Manchester City under Sheikh Mansour also lost £190million which is about as much as the club can afford to lose whilst just being on the right side of the FFP divide.”
Newcastle published their 2022-23 results on Thursday (11 January) revealing a club-record revenue of £250million. However, the Magpies still suffered an overall loss of £73.4million after tax, putting the club close to the allowable losses set by Financial Fair Play.
Club CEO Darren Eales admitted that Newcastle may have to sell players to adhere to FFP restrictions in 2024 and that has led to rumours that stars such as Bruno Guimaraes could be on the way out.
Major changes are happening at the Tyneside club ever since the takeover and it will take time for Newcastle to adjust to being a team consistently competing at the top of the Premier League table.
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