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11 months ago
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Thursday afternoon has seen the Newcastle United 2022/23 accounts made public.
An official release (see below) from the club revealing the news / accounts.
These Newcastle United 2022/23 accounts are for the 12 months up to 30 June 2023.
Football finance expert Kieran Maguire has pointed out the stand out figures to look at.
Kieran regularly wrote in the past about Newcastle United and Mike Ashley, as well as of course, the situations at many other clubs. A Brighton fan, the football finance expert once famously declaring ‘I’d be soiling myself’ if Ashley was buying a club he supported.
Kieran Maguire picking out these key figures from the Newcastle United 2022/23 accounts. with some comparisons to the previous year’s accounts:
Revenue – Up 39% to £250m
Wages – Up 10% to £187m
Ave weekly wage – £94,600
Amortisation – Up 75% to £87m
EBIT losses – Down 12% to 66m
Player signings – £153m
Player sales – £3m
Squad cost £472m – Up 33%
Funding – £127m from new shares and £50m from loans
Club make public the Newcastle United 2022/23 accounts – 11 January 2024:
Newcastle United Limited (Newcastle United) has filed its financial results for the 2022/23 financial year, which showed a 39% increase in revenues.
The improved financial performance reflects progress both on and off the pitch since the acquisition of the club by the PIF-led ownership group in October 2021.
A loss after tax of £73.4m was reported by Newcastle United for the 12 months ending 30 June 2023, in line with the club’s prior year financial performance. This was driven mostly by the continued investment in the playing squad.
The club increased its revenues to £250.3m from £180m the previous year, as match day, commercial and media rights revenues all increased.
The financial performance was supported by the club’s successful season on the pitch, with the club reaching its first major cup final in 24 years and achieving a fourth-place finish in the Premier League to secure qualification for the UEFA Champions League.
Since the end of the accounting period, the ownership group has injected additional capital into the club to improve the financial position of the business. This additional funding aligns with PIF’s approach as a long-term investor.
Darren Eales, Chief Executive Officer of Newcastle United, said: “Newcastle United has had a very successful year both on and off the pitch.
“We grew revenues by 39%, with an increase in TV money, improved sponsorship deals and a sharper focus on everything we are doing across the club.
“We continue to make progress each day as we strengthen the foundations of the long-term project that we are developing here at the club.”
Newcastle United’s accounts for the 12 months ending 30 June 2023 can be found here.’

 
