Poor performances hurt Newcastle bottom line

ENGLISH Premiership soccer club Newcastle United said yesterday it has made a full-year loss after a disappointing performance last season.

Announcing results for the year to July 31, Newcastle, whose players include Ireland goalkeeper Shay Given as well as defender Steven Carr, said it booked a £104,000 (€150,000) loss after finishing 14th in the league, following a £4.17m profit the previous year.

Turnover fell to £87.0m from £90.2m while players’ wages climbed to £50.2m from £44.9m. The purchase of England striker Michael Owen from Real Madrid was not included in the accounts.

“While the team progressed to the FA Cup semi-final and the UEFA Cup quarter-final, the club’s performance last season in the FA Premier League was disappointing,” said club chairman Freddy Shepherd.

Graeme Souness succeeded Bobby Robson as manager in September 2004 and has brought several international players to St James’s Park without achieving consistent results.

“Whenever a change of team manager takes place, it inevitably leads to some disruption in the running of team affairs,” Shepherd said.

“While we were undoubtedly impacted by the extent of injuries to the first team squad, the level of overall performance achieved fell below the standards we set for ourselves.”

Newcastle spent £27.1m on players in 2004/5 compared with £7.4m the previous year, and sold players worth £17.8m, compared with £26.9m.

In August they spent £16m on Owen and £14.7m on Deportivo Coruna’s Albert Luque.

“This has been a period of major investment in the playing squad,” Shepherd said in a statement to the Stock Exchange.

“The board of directors has made available the funding to secure one of the most exciting playing squads in the FA Premier League and hopes to bring the success that our magnificent supporters desire.”