Magpies lose £9m

Newcastle have announced a £9m (€13.2m) loss after failing to qualify for the Champions League in consecutive seasons despite a huge outlay on players.

The Barclays Premiership club made £8.3m (€12.2m) profit the previous year but in preliminary results for the year ending July 31 2005, a total operating loss of £9m (€13.2m) has been announced.