Newcastle United Announces Profit Through June '12, But Wage Bill Rises 20%
Premier League Newcastle United "recorded a profit for the second successive year, despite the club's wage bill rising" 20% to £64.1M ($92.9M), according to the PA. In the financial figures for the year ending June '12, Newcastle "made a profit after player amortisation" of £1.4M -- significantly down on the previous year's £32.6M, though that was due largely to the £35M sale of Andy Carroll. The results showed Newcastle "re-entering the list of the world's top 20 revenue-generating clubs," having increased turnover by 5.4% to £93.3M ($141M). That figure includes a rise of 14.6% in TV income "as a result of their fifth-placed finish." However, while operating costs "remained steady" at £21.6M, operating profit fell from £13.3M to £7.5M, and the club's wage bill hit £64.1M as a result of the addition of the likes of Yohan Cabaye, Sylvain Marveaux, Davide Santon, Papiss Cissé and the now departed Demba Ba (PA, 3/27).