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Finance Notes: Newcastle Admits To 'Financial Gamble'

EPLside Newcastle United said that it took a "financial gamble" to win promotion to the Premier League, with its wage bill in the '16-17 season the highest in English Football League history. New figures show the club paid wages of £112.2M, almost double the League Championship's other promoted clubs, Brighton & Hove Albion and Huddersfield, combined. The club lost £90.9M that year (BBC, 5/18).

U.K. fund manager Nick Train, renowned for his "buy and hold" strategy, increased his stakes in ManU. Train bought into the club last August (FINANCIAL TIMES, 5/18).

Ruroc, a maker of helmets for skiers and snowboarders that have detachable, non-fog goggles, received a £3M ($4M) cash boost from the Business Growth Fund. The Gloucester-based company will use the funds to "open a Chinese office and add to its 35-strong staff" (SUNDAY TIMES, 5/20).

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