"Newcastle admit they took a "financial gamble" to win promotion back to the Premier League, with their wage bill in the 2016-17 season the highest in Football League history.

New figures show they paid wages of £112.2m, almost double the Championship's other promoted clubs, Brighton and Huddersfield, combined.

The club lost £90.9m that year.

The Magpies said the approach was "only possible" because of the "financial support" of owner Mike Ashley."

BBC story