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10 months ago
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The Newcastle United accounts for the 2022/23 season were made public (see below) eight days ago.
The loss for the year / season of £73.4m took most of the headlines, due to significant investment across the club, on and off the pitch. As the club tries to bounce back after a decade and a half of Mike Ashley.
The real big story though, was that these latest 2022/23 Newcastle United accounts showed an increase in revenues coming in of £70m, climbing from £180m to £250m.
The current 2023/24 season is guaranteed to continue that journey, with Champions League (direct and indirect) revenues and the Sela shirt sponsorship deal playing big roles in that.
For next season (2024/25), we already know that the Adidas deal will bring a massive further boost to the Newcastle United accounts.
However, the club’s determination to grow NUFC revenues, particularly via commercial deals, is relentless.
With now The Times revealing that in the coming weeks we will see a number of further new commercial / sponsorship deals made public.
The Times report – 19 January 2024:
“Newcastle are set to announce a series of sponsorship deals in the forthcoming weeks that will further boost a turnover that has risen to £250 million since the club were taken over by Saudi Arabia’s Public Investment Fund in October 2021.”
Since the Newcastle United owners bought Mike Ashley out, there has been a massive increase in the recruitment of staff across the club and that is ever ongoing. Both on the football side and the business side.
Under Mike Ashley it was a skeleton staff with all costs cut to the bone.
Now with a proper recognisable Premier League ambitious club level commercial department in place, Newcastle United determined to close the financial gap on the established ‘elite’, to enable them to compete on and off the pitch moving forward.
The Mag report – 11 January 2024:
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.’

 
