So how much does Newcastle really generate and what does Rafa have to work with? According to Deloitte money league, player sales and purchases are not included and ranked Newcastle in their top 20 revenue generators.

In the season we got relegated and prior to that, Newcastle gereated a revenue of:

Matchday €35.2m (£26.8m)
Broadcasting €101.4m (£77.1m)
Commercial €32.7m (£24.9m)

And the figures were similar for the year before. So therefore Newcastle generated around the £130m mark.

But what about this season? Well based on the new to rights and prize money and keeping a constant commercial and match day revenue stream; Newcastle is looking to have earned approx


Matchday £27m
Broadcasting £123m
Commercial £25m

Totalling £175m for 2017/18 season which is up by £45m from the previous premier league campaign.

The 2015/16 season saw Newcastle make an operating profit with a wage bill of £74m. Rafa had trimmed down the wage bill significantly and will continue do so with atleast another 5 high earners set to leave. Which should give a sizeable budget of atleast £30m to spend plus revenue generated from player sales.

One thing That is evident is that Newcastle are in the top 20 money league and generates enough income to run sustainably but the question really lies on how fat Mike cooks the books and makes it seem like we're always lacking the funds.