Newcastle United CEO Darren Eales has conceded that every player has a price after the club’s full set of financial accounts were published. For the latest accounting period, the Magpies posted a £73.4million post-tax loss, with the losses largely attributed to ‘continued investment in the playing squad’, as per the statement that accompanied the figures.
While the Toon were operating at a heavy loss, the accounts didn’t include their new front-of-shirt sponsorship with Saudi firm Sela and Champions League prize money from this season. Newcastle will reap the rewards of their efforts in Europe from next year but, until then, the club remain under pressure to comply with Financial Fair Play rules and the Premier League’s profitability and sustainability rules.
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