League Championship Side Newcastle United Posts £4.6M Profit As Turnover Falls

League Championship side Newcastle United posted a profit of £4.6M for the year ending June '16, according to FC BUSINESS. The profit was down from £32.5M recorded in '15 but "marks a sixth consecutive year of recorded profit." Turnover fell by 3%, the "most significant element" of this being a £4.5M drop in media income, down from £77.2M to £72.7M. In addition to the impact of an 18th-place finish on the merit-based payments received by the club, "there were four fewer matches screened live (16 compared to 20)." Operating expenses increased 7% to £96.5M and amortization of players’ registrations increased by £7.8M to £28.3M. In both cases, this "reflects the significant spend on additions to the playing squad" in the summer '15 and Jan. '16 transfer windows. The total "net cash spend" on players in the financial year to June '16 was £70.7M, compared to £23.8M in '15 (FC BUSINESS, 4/6).