SportBusiness.com

Newcastle profits boost

English Premier League soccer club Newcastle United has reported a big boost in full-year profits – and unveiled plans to boost its brand in the Far East.

The club saw turnover rise by 36 percent for the year ending July 31, to a total of £96.4m, with operating profits leaping 80 percent.

Wage costs, as with all clubs, continued to rise, however, up 41 percent to £45.2m.

Said United chairman Freddy Shepherd: “While failing to qualify for this season’s Champions League was unquestionably a major disappointment, the club has the infrastructure and playing squad backed by a loyal supporter base to continue to be successful going forward.
TV revenues rose by 70 percent to £41.7m – courtesy of playing in last season’s Champions League – and a boost in domestic TV revenues.
Shepherd also said the club would look to build upon its trip in the summer to the Far East to further enhance the club’s brand and commercial potential.