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"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
im afraid the salaries being paid to loads of championship players is ludicrous surely at least 80 per cent of clubs must be in big debt would love to see a maximum wage in this league to even things up a bit
Makes one wonder how this FFP really works, because I can't see for the life of me how they can lose £90m and still come out of it ok?Quote:
Originally Posted by FatherKnowsBest
I would never want SUFC to do this just give CW a fighting chance and not live off scraps.
Isn't it an average over 3 seasons....and they are a Prem team after 1? That appears to be the gamble.Quote:
Originally Posted by blades58
Yep I think that's right chipsQuote:
Originally Posted by Chips1889
Wonder where Wendy currently are?
Be a laugh if they got their collar felt :D
B58, Wendy seem to have found a way round probably to do with the non-existant shirt makers and some dodgy sponserships.Quote:
Originally Posted by blades58
Clubs in the Championship are allowed to lose £13M per year over a 3 year period therefore £39M. For every year in the Premier League they are allowed to make a loss of £35M So Newcastle were allowed to make a loss of £83M over the period. In the two earlier years they made a post tax profit of £4.6M and £32.5M so in the year in the Championship they were allowed to lose around £120M so roughly still within £30m of the limit.
If the gamble failed and they didn't get up they would have needed to reduce the losses to around £2M for this last season, very hard to do, with players contracts etc. and if they failed again they would need a profit of £54M which would be virtually impossible for a Championship club.
A fake taxi company as well,Quote:
Originally Posted by Chips1889